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Baht Depreciates as Market Reacts to Global Events: Analysis and Predictions for Next Week

InfoQuest News Agency (12 Jan. ’24)

A money manager from the Bank of Ayudhya revealed that the baht closed tonight at 35.07 baht / dollar, depreciating from the morning the market opened at 34.99 baht / dollar During the day the baht moved within a narrow range of 35.00 – 35.10 baht / dollar due to pressure. from the increase in the price of crude oil in the world market From the situation where the United States and England launched air strikes on various targets of the Houthi rebel group in Yemen early next week. The market is keeping an eye on the Bank of Thailand’s (BoT) “BOT Policy Brief: Unveil National Bank Policy Concept” press conference to see what attitude or signal there will be in terms of the direction of interest rate policy. Money managers expect the baht to fall early next week. Moving in the range of 34.90 -35.15 baht / dollar * Important factors – The yen is at 145.09 ¥ / dollar from the morning level of 145.07 ¥ / dollar – The euro is at the level of 1.0963 dollar / euro from the level of morning of 1.0980 dollar/Euro dollar – The SET Index closed today at 1,413.53 points, an increase of 5.29 points (+0.38%) Trading value 40,236.01 million baht – Summary of trading volume by group. Foreigners sold a net amount of 49.68 million baht – The December 2023 Accommodation Operator Confidence Index found the average occupancy rate was 68%, increasing from the previous month. According to the number of foreign tourists that increases during the tourist season Ready to predict usage rates in January 2024. that the average level will be at 65% – The Bank of Thailand (BoT) is preparing to hold the event “Brief BOT Policy: Opening the Concept of National Bank Policy” on Monday, January 15, 2024 by Mr Piti Disyatat, Help the Governor Monetary Policy Group and Secretary of the Monetary Policy Committee, Mrs Suwannee Jesadasak, Assistant Governor Financial Institutions Supervisory Line and Mr. Sakkapop Panyanukul, Senior Director of the Financial Market Division – President of the Federal Reserve (Fed), Cleveland Branch, said that the US Consumer Price Index (CPI) is expanding more than expected. In December 2023 reflect that Achieving the Fed’s 2% inflation target remains a difficult road ahead, and it may be too soon. The Fed will cut interest rates in March 2024 – Analyst polls predict that the People’s Bank of China (PBOC) will cut the 1-year medium-term lending rate (MLF), China’s policy interest rate, by 0.10% to 2.40% from 2.50% on January 15, with the aim of dealing with deflation and stimulating lending. In order to support the recovery of the domestic economy – the United States Securities and Exchange Commission (US SEC) has approved the establishment of the first official fund Spot Bitcoin ETFs. By approving the fund’s request for licenses for a total of 11 locations, which has an important impact on the direction The digital currency industry and has led to the acceptance of more Bitcoin status. After being derided as an intangible asset for more than 10 years – the US and the UK launched airstrikes on Houthi rebel targets in Yemen. In response to the Houthi rebels Attacking a commercial ship that happened many times Until affecting navigation in the Red Sea – Spokesman of the Houthi rebel group An armed group in Yemen has announced that the Houthis will continue to attack Israeli ships or any ships who goes to Israel. and he said that the use of air operations by the United States and Britain to attack Houthi rebels It is a foolish move and will not stop the Houthis.

By Kasamaphon Kittisamphan/Ratchada Kongkhunthian

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