Ms Wilasinee Boonmasungsong, Director of Research, Globlex Securities (GBS), assessed the direction of the Thai stock market this week, there is an opportunity to Sideway Up, giving a movement frame of 1,650-1,700 points, driven by external employment. The US agriculture and services sectors indicate that inflation has peaked.
Investors continue to monitor US inflation numbers this week. The Labor Department said initial claims for unemployment benefits fell by 19,000 to a seasonally adjusted 204,000 last week. That was the lowest since September and below analysts’ expectations of 225,000. ADP reported that US private sector payrolls rose by 235,000 in December, exceeding analysts’ expectations of 153,000 jobs from 127,000 in November. Thus, the CME Group’s Fed Watch Tool indicates that investors are weighing 45.9% that the Fed will raise interest rates by 0.50% to a range of 4.75-5.00% at its January 31-February 1 meeting, up from before. this page weighs only 27.2%.
The Trade Policy and Strategy Office (TPP), Ministry of Commerce has released the consumer price index. (General inflation) for the year 2022 (January-December) at 6.08%, close to the expectation that inflation for the year 2022 will be 5.5-6.5%, with this year’s inflation figures being the highest increase statistics in 24 years .In 2023, headline inflation in Thailand is expected to grow by only 2-3%.
Factors to keep an eye on in the country, for example, today (January 10), the Federation of Thai Capital Market Institutions published the Investor Confidence Index. The Shippers’ Council of Thailand (Exporters’ Council) announces the export situation January 25th Monetary Policy Committee (MPC) meeting No. 1/2023
As for foreign factors, today (Jan. 10), the United States reported stock inventory in the wholesale sector in November. On January 11, the weekly US oil stock report from the US Energy Information Administration (EIA) on January 12, China reports on the Consumer Price Index (CPI), December Producer Price Index (PPI) for December and the Federal Reserve meeting scheduled for the end of the month January 31 – February 1.
Introducing investment strategies in the top stocks listed on the Market for Alternative Investment (may) in 2023, namely SPA, D, CEYE and HE, as well as stocks benefiting from the opening of China, namely MINT, CENTEL, ERW, SPA, PA and SHR
As for the direction of the investment in gold, Mr. Nuttawut Wongyaowarak The research director of Globlex Securities estimates that the price of gold may vary this week. Due earlier in the week, Jerome Powell’s statement on the outlook for monetary policy from the Federal Reserve. While at the end of the week, the US inflation numbers for December were published. The expected level of 6.9% should the figure come out lower than expected. it will boost the price of gold
The research department estimates that gold prices continue to receive support. The economic numbers are expected to be weak. It was also supported by the SPDR which started to send back a signal to buy. During the week, if the price of gold weakens and does not break the support area of $ 1,800 / ounce, we recommend accumulating purchases.
