Baht on the Brink: SCB Financial Markets Predicts Tight Range of 33.65-33.90 Baht/Dollar for Today
- Siam Commercial Bank Financial Market Group (SCB Financial Markets) evaluates the value of the baht today (5 November 2024), moving within the range of 33.65-33.90 baht/dollar.
- The selection of the Bank of Thailand (BoT) board chairman has been delayed.
- Meanwhile, Chinese authorities are considering moving local government debt off the balance sheet to the central balance sheet and may consider expanding the local government debt limit.
SCB Financial Markets Evaluates Baht Value
Siam Commercial Bank Financial Market Group (SCB Financial Markets) evaluates the value of the baht today (5 November 2024), moving within the range of 33.65-33.90 baht/dollar. The baht strengthened yesterday due to the dollar index weakening after investors saw that Donald Trump may have a lower chance of winning. Total US factory orders came in at -0.5% MOM, as expected by the market.
The selection of the Bank of Thailand (BoT) board chairman has been delayed. After reports emerged that the Ministry of Finance may change the representative from Khun Kittirat Na Ranong to Khun Phongpanu Sawetrun.
Meanwhile, Chinese authorities are considering moving local government debt off the balance sheet to the central balance sheet and may consider expanding the local government debt limit.