Baht Strengthens to Seven-Month Excessive Amid U.S. Financial Knowledge; Thailand’s Inventory Market Faces Volatility Forward of Key Financial Indicators

The Kasikorn Analysis Heart revealed that over the previous week, the baht reached its strongest degree in seven months at 34.84 baht per greenback. However cut back a number of the constructive vary. After good financial numbers in the USA helped assist the restoration of the greenback On Friday, August 16, 2024, the baht closed within the home market at 35.02 baht per greenback. in comparison with the extent of 35.29 baht per greenback.

In the meantime, Thailand’s inventory index fell sharply in the course of the week as a consequence of home political points earlier than recovering on the finish of the week.

On Friday, August 16, 2024, the SET Index closed at 1,303.00 factors, a rise of 0.46% from the extent on the finish of the earlier week.

Whereas subsequent week (19-23 August) Kasikorn Analysis Heart Consider vital elements that have to be monitored, together with Thailand’s 2nd quarter GDP numbers 2024 and assembly outcomes. MPC on rate of interest coverage

The political and financial insurance policies of the brand new authorities, the path of overseas capital, and indicators concerning the path of rates of interest from the chairman of the Fed on the annual seminar in Jackson Gap, Wyoming.

Though vital US financial figures embrace:

Month-to-month pre-owned residence gross sales and new residence gross sales July Minutes from the Fed assembly on July 30-31 and the variety of weekly jobless claims As well as, the market can be ready to comply with the announcement of China’s LPR rate of interest and price July inflation within the Eurozone and Japan in addition to PMI indices for the manufacturing and repair sectors (preliminary) in August in Japan, the Eurozone, England and the USA.

Kasikorn Financial institution sees the motion of the baht (19-23 August 2024) on the degree of 34.85-35.50 baht per greenback.

On the inventory market, Kasikorn Analysis Heart Consider vital elements that have to be monitored, together with Thailand’s 2nd quarter 2024 GDP numbers, MPC assembly. Speech by the chairman of the Fed’s annual assembly in Jackson Gap, in addition to statements by Fed officers. Home political points and the path of overseas capital Necessary US financial information contains:

Minutes from the Fed assembly, PMI index for August, residence gross sales consumption and new residence gross sales in July. Together with the variety of folks claiming weekly unemployment advantages. Whereas different abroad financial elements embrace China’s August LPR rate of interest Setting, Eurozone and Japan Shopper Worth Index in July, and August PMI from Japan, Eurozone, and the UK.

Kasikorn Securities Firm Restricted believes that the Thailand Inventory Index (19-23 August 2024) has assist ranges at 1,290 and 1,280 factors, whereas resistance ranges are at 1,310 and 1,330 factors, respectively.