2023-07-09 23:27:00
Mr. Watan Jitsomnuek, Director of Strategic Analysis Department, Pai Securities (PI), revealed the direction of the situation.Thai stock market this weekwith Nation Online that Friday night, the United States reported non-farm payrolls at 209,000, below the market’s expectation of 224,000 and down from the previous month’s 306,000. The unemployment rate was expected at 3.6%.
While average hourly wages grew by 0.4%MoM, higher than the market’s expectation of 0.3%MoM. After knowing the above data, it was found that the 2-year US Bond Yield began to slow down, but CME FED Watch still weighed on a high of 93% at The US Federal Reserve will raise interest rates by another 0.25% at its meeting at the end of July.
This week, wait for US inflation (CPI), which is scheduled to be reported on Wednesday night around 7:30 p.m. Bloomberg estimates it at 3.1%YoY, if reported below market expectations, it will be a positive factor for the US stock market.
For the Thai stock market, investors will weigh in on political factors, especially on Thursday’s prime ministerial choice. The latest information shows that the leaders forming the government have a total of 310 MPs, with more than 65 votes missing on that day, so they have to wait and see if they will receive support from the senators.
We believe that ifvote prime ministerwent well, the stock market has a chance to receive a positive response from political clarity, but if the vote does not pass, the stock market has a chance to correct, but believes that it will not be severe because the market is expected to know at a certain price that the first round of votes will not be able to pass
However, in the end, we believe that the Prime Minister’s vote will eventually pass. If the market corrects downward from the first round of concerns, it is more likely to accumulate.
In addition, foreign factors believe that the pressure will gradually ease due to the price in the interest rate market has gone a lot.
Other issues this week: 1. US PPI on Thursday night, Bloomberg estimates at 0.2%MoM. 2. US consumer confidence from the U of Michigan, the market is expected at 65.5. This week, the SET is expected to move in Frame 1,460 – 1,520 strategic points still trading. Top Pick BBL (TP 190) CPN (TP 83) AOT (TP 82) CPALL (TP 72) HMPRO (TP 15.9)
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