Baht on the Brink: SCB Financial Markets Predicts 33.25-33.50 Baht/Dollar Today
- Siam Commercial Bank Financial Market Group (SCB Financial Markets) Evaluate the baht today (18 September 2024), moving in the range of 33.25-33.50 baht / dollar.
- The value of the baht depreciated due to the release of US retail sales numbers, which came in at 0.10% compared to the previous month, exceeding market expectations.
- Today, market attention is focused on the results of the US Federal Reserve (Fed) meeting, with a 55% chance of the Fed cutting interest rates by 0.50% expected.
SCB Financial Markets: Baht Expected to Move in Range of 33.25-33.50 Baht/Dollar Today
Siam Commercial Bank Financial Market Group (SCB Financial Markets) Evaluate the baht today (18 September 2024), moving in the range of 33.25-33.50 baht / dollar.
The value of the baht depreciated due to the release of US retail sales numbers, which came in at 0.10% compared to the previous month, exceeding market expectations. Additionally, industrial output was 0.80% compared to the previous month, also higher than market expectations, leading to higher Treasury yields and a stronger dollar.
Today, market attention is focused on the results of the US Federal Reserve (Fed) meeting, with a 55% chance of the Fed cutting interest rates by 0.50% expected.
However, the Fed’s communication may also impact the baht. If the Fed cuts interest rates by 0.25% but sends a message that they can still cut by 0.50%, the baht may not depreciate significantly.