Mr. Poon Panichpipon, Money Market Strategist, Krungthai GLOBAL MARKETS, Krung Thai Bank, revealed that the baht opened this morning at 35.30 baht/$, slightly down from yesterday’s close of 35.27 baht/$.
For a fading value trend I’m starting to see the risk that the fading will fluctuate and weaken somewhat. Especially if the baht clearly weakens through the resistance area of 35.30 baht/$. This will provide an opportunity for the baht to weaken and test the 35.50 baht/$ area easily, however, one should keep an eye on the dollar’s direction. In the morning it may fluctuate according to the value of the Japanese Yen (JPY) after Japan receives the data report. Important economy
Both the inflation rate (CPI) and Purchasing Managers’ Index (PMI) for the manufacturing and services sectors will influence market players’ views on the trend. The Bank of Japan is likely to adjust monetary policy.
In addition, gold-related transaction flows including crude oil remain an important factor that could influence the baht during this period.
“If gold prices and crude oil prices continue to decline this will also encourage transaction flow to buy gold and crude oil, putting pressure on the volatile baht to depreciate its value.
Mr. Boone stated that Mr. Boone looked at the dim range today. It is expected to be at 35.15-35.45 baht/$.
Important factors
– The yen price is at 149.57 yen/dollar from yesterday evening’s level of 149.26 yen/dollar.
The price of the euro is at 1.0901 dollars/euro since yesterday evening at 1.0914 dollars/euro.
– The exchange rate is baht/dollar and the BoT interbank weighted average is 35.251 baht/dollar.
Seththa stresses that the basic policy should be to stimulate the economy significantly, and it is necessary to distribute digital wallet funds. They claimed that they changed their minds about the loan law for the sake of transparency and justice, and if the Council of Ministers approves it, the people will consider it approved, and the people will come out to protect the Prime Minister from interference in police operations.
– The Thailand team presents target countries for proactive economic diplomacy, and identifies 10 target countries agreed upon by 3 agencies (Ministry of Commerce, Ministry of Foreign Affairs, and Board of Investment), consisting of: 1. United States 2. China 3. Japan 4. Germany 5. France 6. India 7 United Arab Emirates 8. South Korea 9. Kingdom of Saudi Arabia and 10. South Africa Department of Trade has 5 important guidelines to promote
The Governor of the Bank of Commerce notes that the Thai economy must adapt to the future. “Grow with resilience and be able to absorb shocks from the crisis” while the Bank of Commerce supervises the financial system according to risks. Not too stringent, moving forward with three lines of attack on the Thai financial system. Increase spending through digital channels Reduce extra cash Financial products for sustainable businesses Add a central database for loan applications
– “Permanent Finance Minister” points out that the Thai economy must overcome 5 major challenges including Thai GDP has expanded and contracted continuously for 20 years, with a growth rate of 3.2% on average, geopolitical problems, and an aging society Household debt problems High title Low investment level confirms financial stability Finance remains strong to support investment New industries create sustainable GDP growth
– Center for Economic and Business Forecasting, University of the Thai Chamber of Commerce, revealing the results of a consumer opinion survey on the 10,000 baht digital wallet, it was found that up to 77.3% of people agreed that the government will take measures to stimulate the economy by distributing digital money, and up to 94.4% Subject to the conditions for obtaining digital money, only 5.6% did not obtain it, while those opposed to the project 22.7%.
– US gold and silver markets are closed on Thursday, November 23, on the occasion of Thanksgiving.
The world is watching the temporary truce between Israel and Hamas, which will begin this morning (November 24) at a Qatari initiative. Acting as a mediator in the negotiations revealed that the four-day truce between Israel and Hamas will enter into force at 7 a.m. local time. Or at 12.00pm Thai time today. By a group of Israeli women and children as hostages. The first to be released today are 13 people.
– Keep an eye on today’s economic data. Japan is scheduled to reveal its inflation rate in October, and the GfK Institute also released its consumer confidence index. England’s November consumption, Singapore’s October industrial production, Germany’s GDP for Q3 2023, and the Ifo November business confidence index. In the United States, the November PMI will be determined for the manufacturing and services sectors. Issued by Standard & Poor’s Global.
By InfoQuest News Agency (November 24, 2023)
Tags: baht value, exchange rate, baht
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