InfoQuest – Kasikorn Bank (BK:) expects baht movement next week (May 20-24) at 35.85-36.50 baht per dollar. Meanwhile, Kasikorn Research Center is assessing important factors that need to be monitored, including Thailand's GDP numbers for the first quarter of 2024 (May 20), and the trend of foreign capital. The status of gold prices on the global market and statements by Federal Reserve officials
Meanwhile, important US economic figures include used home sales. New Home Sales in April Preliminary Purchasing Managers' Index (PMI) for May
The number of people applying for weekly unemployment benefits and minutes from the April 30-May 1 Fed meeting. The market may wait to follow the announcement of the key interest rate on Chinese loans and the results of the South Korean central bank meeting. April England inflation rate and May preliminary PMI. Japan, the Eurozone and England
Last week, the baht recorded its strongest level in about two months, at 36.05 baht to the dollar. After US CPI inflation data came in weak, the baht depreciated for a short period. At the beginning of the week, it weakened completely in some periods and then turned to strength in the subsequent period, in line with the trend of other currencies in Asia. Gold prices rose in global markets. Meanwhile, the dollar returned to face selling pressure after the decline in US bond yields.
After the US Consumer Price Index and retail sales numbers in April were weaker than expected. In addition, the Fed Chairman has sent a signal that the Fed is unlikely to raise interest rates again based on US inflation data. The Fed's stance has increased market weight on the possibility that the Fed will cut interest rates for the first time at its meeting in September. This is again, in terms of the baht, the baht has been enhanced. Meanwhile, Thai stocks closed on a positive note for the fourth straight week, rising to 36.05 baht per dollar.
During the previous week, it will weaken somewhat again at the end of the week after the market situation was adjusted to wait for the follow-up GDP numbers for the first quarter of 2024 in Thailand on May 20, and this is on Friday, May 17, 2024, the baht closed in the local market at 36.28 baht to the dollar . Compared to the level of 36.72 baht per dollar. On the previous Friday (10 May 2024) for the portfolio status of foreign investors from 13 to 17 May 2024, foreign investors had net purchased Thai stocks worth 5,212 million baht and the position of net inflows into the Thai bond market was 3,706 million baht (net purchases from Thai bonds 3.935 million baht
Minus expired debt instruments amounting to 229 million baht)
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