KBank expects the “baht” range next week to be 34.20-34.90 baht, a sign of foreign capital. Thailand’s export figures and economic indicators for November
Kasikorn Bank (KBank) Look at the movement of Next week’s Baht value (25-28 Dec.) at the level of 34.20-34.90 baht / dollar from the market closing on Friday, December 22, 2023 at 34.58 baht / dollar.
There are important factors that need to be followed in the country, including signals from foreign capital. Thailand’s export figures and economic indicators for November Meanwhile, important foreign economic figures include the house price index in October. Home sales pending closing in November and the number of weekly jobless claims in the US Including data on industrial profits for November in China.
In the past week, the baht initially weakened in line with most currencies in Asia. Including the weakening yen. After the Bank of Japan (BOJ) decided to maintain monetary policy as before. and it did not send a clear message about the timing of a move away from ultra-loose monetary policy. Although the dollar is supported by signals from officials of the Federal Reserve (Fed). which reflects that The timing of Fed interest rate cuts in 2024 is unlikely to come soon. In addition, the depreciation of the baht also coincides with foreign investors’ net selling signals for Thai bonds.
The baht returned to moving within a narrow range mid-week amid light trading. But it moved to strengthen at the end of the week in line with the increasing price of gold in the world market. Although the dollar There are negative factors from the GDP figure of the 3rd quarter of 2023 of the United States, which was revised down to expand at 4.9% per year, and from expectations regarding the possibility of an interest rate cut by the Fed in 2024.
For the status of foreign investors’ investment portfolio between 18-22 December 2023 Foreign investors sold a net 3,713 million baht of Thai stocks and had net outflows from the Thai bond market of 13,035 million baht (net bonds sold of 6,144 million baht and debt instruments of 6,892 million baht were expired).
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