Kasikorn Bank (KBANK) looks at the movement of the baht next week (March 6-10) at a level of 34.40-35.00 baht / dollar from the close of the market on Friday March 3, 2023 at the level of 34.68 baht / dollar. There are important factors to monitor, including the direction of US monetary policy. From the speech of the President of the Federal Reserve (Fed) to Congress on March 7-8, this February inflation rate. of Thailand, the direction of foreign investment and Asian currencies
While the key US economic numbers are non-farm payroll numbers. unemployment rate Private sector employment data from ADP in February, factory orders January job openings and labor turnover figures and the number of applicants for unemployment benefits
Markets are also waiting for the outcome of the monetary policy meeting of the Bank of Japan and the Reserve Bank of Australia. Including international trade figures for January-February. CPI and the Producer Price Index in February. of China as well
Over the past week, the baht has moved volatilely. by depreciating in the beginning before reversing in the middle to the end of the week. The baht depreciated to 35.39 baht / dollar, the weakest level in three months, with negative factors from data on the current account balance of Thailand that turned to a deficit in January. . the dollar garden This continued to be supported by expectations regarding the prospect of a Fed rate hike.
However, the baht turned around to appreciate in mid-late of the week, in line with the recovery of the yuan, thanks to February manufacturing/services PMI data. of China, which indicates the start of a recovery in economic activity in China.
As for the investment portfolio status of foreign investors between February 27 and March 3, foreign investors continued to sell Thai stocks at 10,142 million baht, but had net inflows into the Thai bond market at 3,192 baht. million baht (net purchase of 8,179 million baht, but with expired debt securities of 4,987 million baht)
By InfoQuest News Agency (04 Mar. ’23)
Tags: KBANK, baht, Kasikorn Bank, baht