Home Business Baht this week, 33.00-33.50 baht/dollar, keep an eye on COVID-19 – Thai export figures – Siam Rath Fed meeting

Baht this week, 33.00-33.50 baht/dollar, keep an eye on COVID-19 – Thai export figures – Siam Rath Fed meeting

by news dir

News reports from the Kasikorn Research Center revealed that the baht last week adjusted in a narrow range. The baht weakened at the beginning of the week amid concerns about the outlook for the Thai economy, which is still affected by the protracted situation of the COVID-19 outbreak. However, the baht appreciated for a short period of time. Subsequently following a position adjustment while waiting for the Fed meeting minutes.

The baht weakened again during the rest of the week following the net sell position of foreign investors in Thai stocks and bonds. coupled with the dollar This was driven by speculations that the Fed may begin to cut its asset purchases under QE as soon as the end of this year. If the US labor market can recover continuously The baht closed on August 20. The baht was at 33.36 baht per dollar. Compared to 33.34 baht per dollar on August 13

For the next week (23-27 Aug), KASIKORNBANK sees the movement of the baht at 33.00-33.50 baht per dollar. Meanwhile, the Kasikorn Research Center assesses key factors that need to be monitored, including the Fed’s annual symposium in Jackson Hole, Thailand’s July export figures and the COVID-19 situation.

While key US economic figures include second hand home sales new home sales durable purchase orders personal income/expense and inflation as measured by the PCE/Core PCE Price Index. In July, the Consumer Confidence Index 2Q21 GDP data (2nd time) and weekly unemployment claims The market is also waiting for the August PMI (preliminary) of the Eurozone, Britain and the US as well.

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