Kasikorn Bank (KBANK) sees the movement of the baht next week (27 February – 1 March) at a level of 35.70-36.30 baht per US dollar. While the Kasikorn Research Center Evaluate important factors that need to be followed, including the direction of foreign investment. The Bank of Thailand’s (BoT) January economic and financial report and statements by Federal Reserve (Fed) officials
Meanwhile, important US economic figures include new home sales. Durable goods orders Total number of home sales contracts pending closing Personal income/expenses and inflation measured from the January PCE/Core PCP Price Indices, Consumer Confidence Index and ISM Manufacturing Index /PMI in February. GDP numbers for 4Q23 (2nd period) and the number of people applying for weekly unemployment benefits. In addition, the market is still waiting to follow the Eurozone February inflation numbers, as well as the PMI index manufacturing January China, Japan and the Eurozone as well
During the last week (19-23 February), the baht depreciated at the beginning of the week. Amid concerns about the trend of Thailand’s economic recovery After Thailand’s GDP figure for 2023 grew by only 1.9% and the NESDB has revised its forecast for Thailand’s economy in 2024 down to the range of 2.2-3.2% , however, the baht turned to appreciate and fell below the level of 36.00 baht y. dollar. In the middle of the week, according to the direction of the Yuan. In addition, there should be additional positive factors from the increase in the price of gold in the world market. and the net buying power of Thai stocks and bonds by foreigners
However, the baht depreciated again at the end of the week. According to the overview of money in the region Although the dollar Has recovered and strengthened following the yield of US bonds. which moved up from the forecast that the Fed is in no rush to cut interest rates at its next meeting.
On Friday, February 23 (before the New York session), the baht closed at 36.07 baht per dollar, compared to 36.02 baht per dollar. On the previous Friday (February 16)
About the status of foreign investors’ investment portfolios Between 19 and 23 February 2024, foreign investors bought Thai stocks of 8,948 million baht and had net inflows into the Thai bond market of 4,753 million baht (net bond purchases of 4,755 million baht, deducting debt instruments which has expired from 2 million baht). ).
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