2024-01-20 10:05:42
Economic news 20 Jan. ’24 10:09 a.m. 2024-01-20
Kasikorn Bank (KBANK) views the movement of the baht next week (22-26 Jan. 2024) at the level of 35.00-35.80 baht per dollar. Meanwhile, the Kasikorn Research Center assesses important factors that need to be monitored, including: Export figures for December of Thailand, signals of foreign capital, results of the BOJ and ECB meetings, including the setting of the Chinese central bank’s LPR interest rate.
Meanwhile, important US economic figures include orders for durable goods. New home sales Home sales pending closing Personal income/expenses and the price index of general and basic personal consumption expenditures (PCE/Core PCE Price Indices) in December, 4Q23 GDP numbers (1st time) and the number of people applying for weekly unemployment benefits. In addition, the market is also waiting to follow the PMI index (preliminary) for January in Japan, the Eurozone, England and the United States as well.
On Friday, January 19, 2024 (before the New York market session), the baht closed at 35.52 baht per dollar, compared to 35.06 baht per dollar. On the previous Friday (12 Jan. 2024)
As for the investment portfolio status of foreign investors between 15-19 Jan. 2024, foreign investors net sold Thai stocks for 10,938 million baht and had a status of Net Outflows from the Thai bond market for 8,761 million baht (net sales 8,331 million baht of bonds and 430 million baht of expired debt instruments)
in the past week The baht continues to depreciate It recorded the weakest value in more than 1 month at 35.71 baht per dollar. During the week, the baht briefly strengthened at the beginning of the week, supported by an increase in gold prices in the world market. In addition, there is still no signal of changing the monetary policy guidelines from the BoT. However, the baht turned to depreciate during the Leftovers of the week After there was a signal that The government’s economic stimulus measures may be delayed while the US dollar gradually strengthens following the increase in US bond yields. This is consistent with the market gradually reducing the possibility of seeing the Fed cut interest rates at its March meeting. come down
In addition, the depreciation of the baht was also consistent with net selling pressure on Thai stocks and bonds by foreign investors. However, the baht lost its weakening period and partially bounced back at the end of the week following the direction of the currency. Asia as a whole
By InfoQuest News Agency (20 Jan. ’24)
Tags: KBANK, baht value, Kasikorn Bank, exchange rate, baht
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