The baht appreciated in two months at 32.82 baht per dollar. While Thai stocks face selling before the Fed meeting next week.
The baht appreciated in two months at 32.82 baht per dollar. While Thai stocks face selling before the Fed meeting next week.
Summary of the movement of the baht
– The baht gradually strengthened. It hit the highest level in two months at 32.82 baht per dollar. during the week The baht appreciated in line with the direction of the yuan. In addition, there was additional support from foreign investors’ net buy position in Thai bonds. However, the dollar gradually recovered partially following investor buybacks at the end of the week. While the market is waiting to follow the signal of the Federal Reserve’s monetary policy from the FOMC meeting on 25-26 January 2022.
– On Friday (Jan. 21), the baht closed at 32.90, compared to 33.22 baht per dollar. On the previous Friday (14 Jan)
For the next week (24-28 Jan. 20), Kasikorn Bank sees the movement of the baht at 32.70-33.40 baht per dollar. Meanwhile, the Kasikorn Research Center has assessed key factors that need to be monitored, such as the FOMC meeting results, the direction of foreign funding. and the COVID-19 situation While the important US economic numbers are the manufacturing/service sector PMI index. Consumer Confidence Index for Jan. new home sales durable purchase orders Sales contracts for homes that are pending sales personal income/expense and inflation as measured by the PCE and Core PCE Price Index in Dec. Home price index in November. 4Q21 GDP and weekly unemployment claims In addition, the market is still waiting to track industrial profits in December. of China as well
Summary of the movement of the Thai stock market
– Thai stocks fell sharply from the previous week. The SET index closed at 1,652.73 points, down 1.19% from the previous week. The average daily trading value was 90,965.01 million baht, an increase of 8.24% from the previous week, while the mai index fell 2.99% to close at 661.85 points.
– Thai stocks rose briefly at the beginning of the week. from the expectation that the authorities will relax some of the measures to control the covid situation before gradually declining during the rest of the week same direction as foreign stock markets Amid concerns about the Fed’s tightening of monetary policy that may occur faster and stronger than expected After the US Treasury yields rose and there were no new supporting factors coming in. This resulted in some selling pressure ahead of next week’s Fed meeting, mainly from foreign investors and domestic institutions.
For the next week (24-28 Jan. 20), Kasikorn Securities Co., Ltd. sees the SET index at support at 1,640 and 1625 points, while resistance at 1,665 and 1,675 points, respectively. The Kasikorn Research Center has assessed key factors that need to be monitored, including the Fed meeting (Jan 25-26), the situation of COVID-19. Investment direction of foreign investors 4Q21 results of Thai companies as well as domestic political issues The important US economic data is 4Q21 GDP figures, durable goods orders. personal income and expenses and inflation as measured by the PCE/Core PCE Price Index in Dec. 64, including PMI data (preliminary) in Jan. 65, while other foreign factors such as PMI (preliminary) data in Jan. 65 Japan and the Eurozone Including industrial company profits in December 64 of China
