Today (30 April 2024) the value of the baht opened the market stable at 37.04 baht per dollar. The support level is 36.90 baht and the resistance level is 37.20 baht.
Date: 30 April 2024, Money Market Business Department and International Transactions TMB Thanachart (ttb) revealed that the baht this morning opened at 37.04 baht per dollar. Close to yesterday’s market closing price of 37.02 baht per dollar.
The movement of the baht is rather narrow. It is within the range of 36.95-37.10 baht per dollar. The main factor that weighed on the market yesterday was the Yen, which weakened at the market opening past the ¥160 per dollar line. before the Yen strengthened to 156 yen per dollar on the same day. the market anticipated that it could be an intervention by the Japanese authorities.
Although the baht has received positive factors from the strengthening of the yen But there are still negative factors from the March export figures for Thailand, which declined more than expected. Thailand’s exports were valued at 24,960.6 million dollars, a contraction of 10.9% compared to the same period in 2023.
About the trend of the baht value The baht is expected to continue to move in the sideways range as the market awaits the results of the monetary policy meeting of the United States Federal Reserve (Fed) and expects that the Fed will maintain interest rates at a level 5.25-5.50% and give weight to Mr.’s statement. Jerome Find signs that point to the Fed’s first interest rate cut this year.
Yesterday, foreign investors sold a net 1,226 million baht in the Thai bond market and bought 557 million baht in the Thai stock market.
Today’s currency price range and recommended strategy is 36.95-37.20 baht per dollar. and selling at levels above 37.20 baht per dollar
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