POT Strengthens – Set 1,350-1,360 Points Next Week, Watch Israel – Central Fed – Thai Listed Company Results Q3/66

POT Strengthens – Set 1,350-1,360 Points Next Week, Watch Israel – Central Fed – Thai Listed Company Results Q3/66

Kasicorn Research Center Summary of Baht Value Movement: Baht reached its strongest level in 1 month at 36.06 baht per dollar. This is in line with the strengthening trend of most Asian currencies amid selling pressure on the dollar earlier in the week. (after US bonds declined) with the additional positive factor of September export figures. Thailand expanded more than expected and foreign investors returned to net buying of Thai bonds.However, the baht eased from positive periods and returned to some depreciation during the week. The bond returned to a narrow range over the weekend to support US bond yields and strengthen the dollar after better-than-expected US economic data. Meanwhile, support for the dollar eased after the 10-year US Treasury yield failed to settle above 5.00%.

For the week between 30 October – 3 November 2023, KBank expects the baht’s operating range to be 36.00-36.50 baht per dollar. Factors to follow include the results of the FOMC, BOJ and BOE meetings, as well as the September economic and payrolls reports. BoT’s signal to foreign capital Situation in Israel Labor market data for October US, 3Q23 GDP numbers and inflation in October Eurozone and PMI data for the manufacturing sector in October. The United States, China, the Eurozone and the United Kingdom

Movement of the Thai stock market The Thai stock index recovered somewhat over the weekend. Overall, Thai stocks fell amid concerns about unrest in Israel after falling sharply for the week. A rise in US bond yields means the Fed is likely to keep interest rates higher for longer. As well as the policy to stimulate the domestic economy, no decision has yet been reached. However, Thai stocks recovered somewhat over the weekend following the direction of regional stocks. Additionally, there has been strong buying in large-cap stocks. Also, stocks that pressured the market throughout the week included the technology group, which faced selling pressure in line with tech stocks in the US. And the banking group faced pressure on profitability after announcing the 3Q23 budget.

For the week of 30 October – 3 November 2023 KSecurities expects support levels to be at 1,360 and 1,350 points, with resistance levels at 1,400 and 1,420 points respectively. Factors to follow include FOMC, BOJ and BOE meetings, monetary direction, foreign capital, 3rd quarter 2023 operating results of Thai listed companies, labor market data for October. US manufacturing PMI index for October for the United States, Japan, China and the Eurozone, as well as 3Q23 GDP figures and October inflation rates. of the Eurozone

#Kasikorn Research Center #Baht Value #Israel #Interest #Fed #SET

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