August 13, 2021 | By Kasikorn Research Center
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The baht continued to adjust in a depreciation range. While Thai stocks are under pressure from the Covid situation
Summary of the movement of the baht
– The baht continues to depreciate. After touching the weakest level in 3 years at 33.49 baht per dollar. during the week The baht weakened at the beginning of the week amid concerns over the spread of the coronavirus in the country. along with the dollar This was supported by statements from Fed officials that the possibility of a gradual reduction in the QE limit. However, the baht recovered briefly. Midweek following the dollar’s sell-off to make a profit, before returning to weaken again at the end of the week as the risk of the coronavirus remained high. while the dollar Another boost from US labor market data. reflecting the continued recovery
– On Friday (Aug 13), the baht was at 33.35 baht per dollar. compared to 33.36 baht per US dollar On the previous Friday (6 Aug)
For the next week (Aug 16-20), Kasikorn Bank sees the movement of the baht at 33.00-33.50 baht per dollar. Meanwhile, the Kasikorn Research Center assesses key factors that need to be monitored, such as Thailand’s 2Q21 GDP figures, the COVID-19 situation in the country. and the MPC meeting minutes (BOT MPC Minutes) on Aug. 4, while key US economic numbers include retail sales, industrial production. The start of building a house in July New York Fed Manufacturing Survey Philadelphia Fed Business Outlook Survey and the August housing market index And the Fed meeting minutes (FOMC minutes) on 27-28 July. In addition, the market is waiting to keep track of the GDP of Japan and the eurozone in the 2nd quarter of the year. including LPR interest rate data and July economic numbers. of China, such as retail sales and industrial production as well.
Summary of the movement of the Thai stock market
– Thai stocks fell positive at the end of the week. by the SET index close thatLevel 1,528.32 point increase 0.43% from last week while the average daily turnover is 83,321.11 million baht increased 13.53% from the previous week, the index May reduce 4.34% come close 488.32 point
– Thai stocks rose in the beginning-mid week in line with regional stock markets Amid expectations for the opportunity to relax monetary policy of the People’s Bank of China In addition, it was driven by the purchasing power of institutional investors. especially the banking group Energy and technology, however, Thai stocks fell later. Amid concerns over the country’s still severe and protracted coronavirus situation as well as domestic political factors
For the next week (Aug 16-20), Kasikorn Securities Co., Ltd. sees the SET index at support at 1,513 and 1,500, while resistance is at 1,540 and 1,555, respectively. The Kasikorn Research Center has assessed key factors that need to be monitored, such as Thailand’s 2Q21 GDP figures, the COVID-19 situation both domestically and internationally. including domestic political issues Key US economic data include retail sales, industrial output and new home building data for July. as well as recordings of the Fed meeting Other foreign factors include Japan’s 2Q21 GDP and the Eurozone. June industrial production Japan’s consumer price index for the month of the Eurozone. Set the LPR interest rate in August and China’s July economic data.
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