Editor’s Choice, Economic News 9:39am.2024-03-20
A financial manager at the Bank of Ayudhya revealed that the baht opened the market this morning at 36.08 baht / dollar, stable at the level. Same as last night’s market close. Most regional currencies devalued.
The big picture: The market is waiting to see the results of the United States Federal Reserve (Fed) meeting tonight. It is expected that the Fed will decide to maintain interest rates at 5.25-5.50% for the fifth time in a row. the market is waiting to see the officials’ interest rate forecasts
money manager Estimated moving range of the baht today is 36.00-36.20 baht / dollar.
Important factors
- The Yen was at 151.16 ¥/dollar from 150.52 ¥/dollar last night.
- The euro was at $1.0865/euro from $1.0843 last night.
- Exchange rate Baht/dollar Weighted average between banks 36.035 baht/dollar
- Big businessmen reflect on the Thai economy growing at a modest pace of only 2% per year because they do not have a clear enough picture of measures going forward. Impact on the economy The recovery was weaker than expected. But it has not yet reached the Tom Yum Kung level of crisis. Recommend that the government hurry to solve structural problems that are obstacles.
- The Permanent Secretary of the Ministry of Finance revealed that the government’s revenue collection results were below target. It is a sign that the economy is in a state of slowdown, partly due to reduced purchasing power. after domestic interest rates remain high Because higher interest rates have an impact on People’s purchasing power, such as people who want to buy a car. or that residence although there is still demand But the ability to repay in installments is less due to higher interest rates. Causing the monthly installments to increase accordingly. As a result, a certain amount of people who borrow Getting a loan from a financial institution is rejected and when the transfer amount of cars or real estate decreases This causes the government’s tax revenue to decrease as well.
- Binance CEO meets with the SEC to exchange international digital asset regulations for the structure of the “digital asset market”, pointing out that Thailand can be a “crypto hub” depending on the players in the market The market helps to push the market to really use.
- The People’s Bank of China (PBOC) has decided to maintain the main one-year and five-year lending rate (LPR) today, after last week’s decision to maintain the policy rate.
- The US dollar rose slightly against major currencies in trading on the New York Forex Exchange on Tuesday (March 19), with the greenback continuing to strengthen. Before the market knows the results of today’s Federal Reserve (Fed) monetary policy meeting, while the Yen is weakening. This is because investors have adjusted to the news that the Bank of Japan (BOJ) has announced the end of the negative interest rate policy.
- The New York gold market closed negative on Tuesday (March 19) as the strengthening of the dollar was a factor that put pressure on the gold market, while investors are keeping an eye on the results of the Federal Reserve’s (Fed) monetary policy meeting today. US time And wait to see the press conference Mr. Jerome Powell, Chairman of the Fed.
- Investors are keeping an eye on the results of today’s Fed meeting, US time The CME Group’s latest FedWatch Tool indicates that investors are putting 99.0% pressure on the Fed to maintain interest rates at 5.25-5.50% at this meeting .
- US economic data this week include the number of weekly jobless claims, Purchasing Managers Index (PMI) for the primary manufacturing sector in March from S&P Global, Purchasing Managers Index (PMI) for the primary services sector at the beginning of March from S&P Global, second-hand home sales in February. and February’s leading economic index from the Conference Board
By InfoQuest News Agency (20 Mar. ’24)
Tags: baht value, baht
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