Kasikorn Bank (KBANK) estimates the range of movement of the baht next week (March 18-22) at a level of 35.30-36.30 baht per US dollar.
The Kasikorn Research Center assesses important factors that must be monitored, including the direction of foreign investment (Flow), the results of the Monetary Policy Meeting, the Dot Plot, and US economic projections. The Fed’s new review (19-20 March) includes the results of the meetings of the Bank of Japan (18-19 March) and the Bank of England (21 March).
Although important US economic figures include the housing market index. and preliminary PMI data for March housing construction numbers Second-hand home sales in February and the number of people applying for weekly unemployment benefits The market is also waiting to follow the preliminary PMI index for March . and February inflation rates in Japan, the Eurozone, and England Including LPR interest rate setting and China’s economic figures such as industrial production, retail sales, investment in fixed assets. and the unemployment rate too
last week the baht depreciated gradually in line with the direction of other currencies in the region, along with additional pressure factors due to the decline in gold prices in the world market. Meanwhile, the dollar strengthened in line with the rise in US bond yields. After US economic data came out better than market expectations. Especially the Consumer Price Index (+3.2% YoY in February above market expectation of 3.1% YoY) Producer Price Index (+1.6% YoY in February Above market expectation of 1.1% YoY) and the number of people who apply for weekly unemployment benefits (a decrease of 1,000 to 209,000, below the market expectation of 218,000). In addition, inflation and labor market numbers in the United States which are still in good shape Decrease’ r the possibility of seeing the Fed cut the policy interest rate at the upcoming FOMC meeting.
The baht closed on Friday, March 15, 2024 at 35.81 baht per US dollar. (after reaching the weakest level in 1 week at 35.86 baht per dollar) compared to the level of 35.42 baht per dollar. On the previous Friday (8 March 2024), for the investment portfolio status of foreign investors between 11-15 March 2024, net foreign investors sold Thai stocks for 4.9 million baht and had a status of Net Outflows. From the Thai bond market 11,670 million baht (net sales of bonds 11,170 million baht and expired debt instruments 500 million baht)
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