InfoQuest – A money manager from Bangkok Bank revealed that the baht closed this evening at 36.57/58 baht/dollar, strengthening slightly. Since the morning the market opened at 36.61 baht/dollar, during the day the baht moved in the range of 36.50-36.70 baht/dollar. The factors affecting the baht's movement today are partly due to the strength of the yen. The market believes that there may be interference by the Japanese government in the value of the yen. Money Manager Tomorrow the baht is expected to move in the range of 36.40-36.75 baht/$, however, if it is unable to break through the support level of 36.50 baht/$, the baht may rebound.
*Important factors
– The yen price is 155.11/15 yen/dollar from its morning level of 156.47 yen/dollar. – The euro is at 1.0871/0875 dollars/euro from its morning level of 1.0908 dollars/euro. – The index closed today at 1337.32 points, decreased by 8.34 points (-0.62%), trading value 45,992.34 million baht – Summary of trading volume by group. Foreigners sold a net amount of 2,257.82 million baht – The National Shippers of Thailand (STN) or Exporters Council still expects Thai exports in 2024 to expand by 1-2%, although in April export situation in Thailand growth will return to 6.8% , supporting export growth in the first four months of this year (January-April) by 1.4%, with confidence that there is still demand for Thai products. Including agricultural products, automobiles and electronics – The Cabinet (Cabinet) meeting decided to approve the additional budget amount for fiscal year 2024 as proposed by the Budget Bureau (BOP) in the amount of 122,000 million baht for the central budget. List of expenditures to stimulate the economy and strengthen the economic system. The source of money comes from revenue collection. Which was not originally specified in the additional estimate of 10,000 million baht and loans to compensate for the budget deficit in the amount of 112,000 million baht – results of a poll of analysts A report issued by the Official Monetary and Financial Institutions Forum (OMFIF) indicates that a growing number of central banks around the world are planning to increase their investments in the dollar. American. Which provides high returns, and at the same time reduces interest in investing in the Chinese Yuan currency due to low returns. There are geopolitical tensions, as India begins counting votes for the 2024 elections at 8:00 am local time today (June 4), with expectations that Mr. Narendra Modi will win and take over. The position of Prime Minister for a third term is the Minister of Israel. An announcement confirms that there will be no permanent ceasefire agreement in Gaza. Until the conditions for war are met, including the complete destruction of Hamas, the Governor of the Philippine Central Bank rejected the possibility of lowering interest rates. After the Philippine Finance Minister sent a signal about the possibility of lowering interest rates, the Governor of the National Bank saw that it was not the right time to lower interest rates at this time – the Australian Finance Minister issued a warning that the country's economy will expand weakly in the first quarter of 2024, indicating That economic growth in Australia has slowed. Meanwhile, household spending has reached its lowest level in a decade. If not including the COVID-19 outbreak – this week the United States will announce important economic data, including May private sector employment numbers from ADP, the final services sector Purchasing Managers' Index (PMI), and the monthly services sector index For May, the number of people applying for weekly unemployment benefits, total imports, total exports, and the April trade balance. May non-farm employment numbers etc.
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