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Baht Stable as Yen Strengthens, Markets Await US Economic Data

InfoQuest News Agency (03 May 2024)

A money manager from Bangkok Bank revealed that the baht closed tonight at 36.78/79 baht / dollar, relatively stable from The market opened this morning at 36.78 baht / dollar, and the baht has no new factors during the day. Moving in the range of 36.78 – 36.85 baht / dollar “The baht dropped quite a bit since yesterday. Because Japan came out to admit that there was intervention in the yen. Causes the yen to strengthen and the dollar to depreciate. which is the main factor affecting the baht That is moving in the same direction as the regional currency,” said the money manager. The factor that needs to be followed tonight is April’s non-agricultural employment numbers. the market expects to fall significantly from the previous time, money managers The range of movement of the baht on Tuesday is estimated at 36.75 – 37.00 baht / dollar. euro from this morning at 1.0737 dollar / euro – The SET Index closed today at 1,369.92 point, an increase of 6.67 points (+0.49%) Trading value 37,512.00 million baht – Summary of trading volume by group Total net foreign sales was 1,447.93 million baht – Trade Office Policy and Strategy (Trade Office Policy and Strategy), the Ministry of Commerce revealed the General Consumer Price Index (CPI) or inflation rate in April ’24 at 108.16 or an increase of 0.19% compared to the same month last year which turned positive for the first time After be negative for 6 months – Deputy Minister of Finance Please note the vision and progress in the digital wallet policy that this policy is 1 policy that created 4 economic cyclones in Thailand. It is a policy of distributing 10,000 baht to 50 million people aged 16 and over This will lead to 500,000 million baht of money entering the economic system, which is the first cyclone. From citizens to shops, the second cyclone from shops to shops, the third cyclone from shops to the production sector. And the fourth cyclone is the technology storm – the head of the US stock market strategy at Bank of America Corp (BofA) said that a strong economic environment will cause The US stock market can remain bullish. Although there is no positive factor from the US Federal Reserve (Fed) interest rate cut – one economist said The European Central Bank (ECB) is likely to cut interest rates before the US Federal Reserve (Fed) could have a negative impact on Eurozone countries – today’s (3 May) survey indicates that British service sector companies reported a strong increase in service sector activity. The highest in almost a year in April. This is despite cost pressures continuing to increase. indicating a growing economy England Strength – Today’s US economic data includes April non-agricultural employment numbers, the final April Service Sector Purchasing Managers’ Index (PMI) from S&P Global and the April Service Sector Index from the Institute for Supply Management US (ISM).

By Papassorn Ongpichetmetha/Ratchada Kongkhunthian

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