Closed at 35.79, depreciating, keeping an eye on US economic figures indicating the direction of Fed interest rates–ECB meeting

2023-09-14 10:38:13

InfoQuest News Agency (14 Sept. ’23)

A money manager from the Bank of Ayudhya revealed that the baht closed this evening at 35.79 baht/dollar, depreciating from The market opened this morning at 35.73 baht/dollar while currencies in the region moved in mixed ways. During the day, the baht moved in the range of 35.64 – 35.80 baht/dollar, making a new high in 9 months since Nov. 2022, with the market waiting to see tonight’s US economic numbers that will affect the interest rate trend. and the results of the European Central Bank (ECB) meeting, which is still uncertain whether there will be a resolution to increase or maintain interest rates. “The baht has weakened from this morning. During the day, go make a new high in 9 months,” the money manager said. The money manager The baht’s movement range is estimated tomorrow at 35.65 – 35.90 baht/dollar. * Important factors – The yen is at 147.34 yen/dollar from 147.11 yen/dollar this morning. – The euro is at 1.0725 dollar/euro. From this morning at 1.0734 dollars/euro – SET Index closed today at 1,545.14 points, an increase of 9.83 points, +0.64%, trading value 40,568.46 million baht – Summary of trading volume by group. Net foreign purchases were 1,276.54 million baht (SET+MAI) – The government increased the 2024 expenditure budget by another 130 billion baht from 3.35 trillion baht to 3.48 trillion baht under the GDP growth forecast of 2.7-3.7% – The Prime Minister revealed that he was preparing to make an announcement. Big economic stimulus measures Whether it is increasing income or reducing expenses for The people will be the starting point. And will try to do it as quickly as possible. Some policies are expected to come out within the 1st quarter of 2024 or in February 2024 at the latest – Chairman of the Advisory Center for Economic and Business Forecasting Pointing out that the digital wallet policy of 10,000 baht, which requires a budget of 500 billion baht, is expected to help the economy grow by 2-3% and has the opportunity to make the Thai economy grow in 2024 at a level of 4-5%. – Economic and Business Forecast Center The University of the Thai Chamber of Commerce revealed that the August 2023 Consumer Confidence Index stood at 56.9, increasing from 55.6 in July from an important positive factor, namely the acquisition of a new prime minister. which helps support confidence in The overall economy also has positive factors from more foreign tourists coming to travel in Thailand. After the opening of the country – JPMorgan Asset Management predicts that The Federal Reserve (Fed) does not raise interest rates cyclically. This round of the economy After the United States revealed inflation numbers that are still in a downward direction – Moody’s Investors Service downgraded the credit outlook for China’s real estate sector to “negative” from “stable”, stating that growth China’s economy is facing many challenges. which will affect sales in Real estate sector Even though the government has issued measures to support the sector in the past.

By Thanawat Suayaem/Ratchada Kongkhunthian

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