Kasikorn Analysis Heart Firm Restricted summarizes monetary and capital market circumstances weekly (20-24 Could 2024), summarizing the motion of the baht worth. The baht returned to its weakest degree in additional than per week at 36.75 baht per greenback. amid predictions that the Fed can hold coverage charges excessive for a very long time.
The baht strengthened for a brief time frame. The beginning of the week coincided with a rebound in international gold costs as a secure haven asset after issues concerning the uncertainty of the scenario in Iran. As well as, there must be extra assist from Thailand’s GDP numbers for the first quarter of 2024, which expanded greater than anticipated. and from the online buying energy of Thai bonds by overseas buyers Nevertheless, the baht weakened throughout the remainder of the week. and reached the weakest degree in additional than 1 week at 36.75 baht per greenback. The baht weakened consistent with the general image of Asian currencies. and the return of the autumn in gold costs on the earth market
whereas the greenback has recovered as supported by US financial numbers. that was higher than market expectations (such because the Composite PMI Index for Could 2024 which was the very best in 2 years and a fall within the variety of folks making use of for unemployment advantages within the week ending Could 18, 2024) together with indicators from the Fed Nonetheless reflecting issues concerning the US inflation scenario. In consequence, the Fed won’t be in a rush to chop the coverage rate of interest within the close to future.
On Friday, Could 24, 2024, the baht closed the home market at 36.68 baht per greenback. In comparison with the extent of 36.21 baht per greenback. On the earlier Friday (17 Could 2024) for the funding portfolio standing of overseas buyers between 20-24 Could 2024, overseas buyers returned to promote Thai shares internet of 4,894 million baht, however the Internet Influx Standing to the Thai bond market was 7,725 million baht (internet buy of Thai bonds 8,525 million baht, deducting expired debt devices 800 million baht)
Subsequent week (27-31 Could), Financial institution Kasikorn sees the motion of the baht on the degree of 36.40-37.00 baht per greenback. In the meantime, the Kasikorn Analysis Heart assesses vital components that must be adopted, together with the April BoT financial and wage report. Route of overseas capital Gold worth scenario on the earth market and statements by Fed officers
In the meantime, vital US financial figures embody Could’s Shopper Confidence Index. The Fed’s Beige Ebook report, GDP numbers for the primary quarter of 2024 (Second Estimate), complete variety of residence gross sales contracts pending closing. Private earnings/bills and inflation measured from the PCP / Core PCP Value Index in April and the variety of folks making use of for weekly unemployment advantages Moreover, the market might wait to comply with industrial revenue knowledge in April. and PMI knowledge for Could from China and inflation figures for Could from the Eurozone as effectively.
Abstract of actions within the Thai inventory market The Thai inventory index fell from detrimental components each domestically and internationally. After closing constructive for 4 consecutive weeks
Thailand’s inventory index fell all through the week amid internet promoting strain from overseas buyers. There are detrimental components from home and worldwide sources, similar to issues concerning the path of the Thai financial system (after the NESDB adjusted Thailand’s GDP estimate for 2024 to 2-3% from the unique 2.2-3.2%), issues concerning the a matter of home politics Together with predictions that the Fed will hold rates of interest excessive for a very long time. After Fed officers expressed concern about US inflation forecasts Though US financial figures such because the PMI index for the manufacturing and repair sectors in Could Nonetheless got here out higher than anticipated.
The above detrimental components are driving revenue taking in shares in all trade teams, led by power, actual property and financials.
On Friday, Could 24, 2024, the SET Index closed at 1,364.48 factors, down 1.32% from the extent on the finish of final week. In the meantime, the typical every day buying and selling worth was 41,150.43 million baht, down 10.50% from the earlier week The index fell by 0.58% to shut at 382.05 factors.
Subsequent week (27-31 Could), Kasikorn Securities Firm Restricted sees the Thai inventory index as having assist ranges at 1,350 and 1,340 factors, whereas resistance ranges are at 1,375 and 1,385 factors, respectively Kasikorn Analysis Heart is assess vital components that have to be adopted together with statements from Fed officers. and overseas capital path Vital US financial knowledge contains GDP numbers for the first quarter of 2024 (Second Estimate), pending residence gross sales. Private earnings/bills, PCP Index/Core PCP Value Index for April, together with the variety of folks claiming weekly unemployment advantages.
In the meantime, different abroad financial components embody inflation numbers in Could. (Preliminary) Eurozone industrial firm earnings in April and the PMI index for the manufacturing and repair sectors in Could from China, together with April retail gross sales and industrial manufacturing in Japan.
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