Kasikorn Bank Estimate the movement of the baht next week (7-11 November) at the level of 37.00-38.00 baht per dollar. while the Kasikorn Research Center Assessment of important factors that need to be monitored include: Thailand’s October inflation figures. The results of the US mid-term election the direction of foreign capital and the currency situation in the region
Although the important US economic numbers are the consumer price index for October. Consumer Confidence Index and Inflation Expectations in November And the number of weekly unemployment benefits. In addition, the market is waiting to follow the economic data in October. from China, such as the number of reserves Consumer Price Index and Producer Price Index Including 3Q22 GDP figures for England and Indonesia as well.
However, the Thai baht fluctuated. The baht depreciated at the start of the week. Peer with other Asian currencies The yuan faces selling pressure after China’s disappointing October PMI data. The Fed may have started to signal a slowdown in its monetary policy tightening outlook, but the baht cleared most of the positive range and returned to weakness after the Fed meeting. Although the Fed has raised interest rates to 3.75-4.00% as expected, but the Fed chairman’s stance on inflation reflects that The Fed will not end its rate raising cycle in the near future.
The baht appreciated again at the end of the week. According to the status of foreign investors’ net purchase of Thai bonds especially short-term bonds while the dollar Lack of additional support Because the market is still waiting to track the labor market numbers in October. from the United States
On Friday, November 4, 2022, the baht closed at 37.50 baht per dollar compared to 37.90 baht per dollar. On the previous Friday (October 28), while between October 31 and November 4, foreign investors bought a net of 14,191 million baht in Thai stocks and had net inflows, entering the bond market at 14,429 million baht. of bonds of 15,696 million baht, but with debt securities expiring of 1,267 million baht)
By InfoQuest News Agency (05 Nov 65)
Tags: baht , kasikorn bank , exchange rate , baht