2023-06-19 15:05:32
Stock Dimension – Global Markets Group Bank of Ayudhya Public Company Limited There are views on the direction of the baht this week that The baht this week tends to move in a range. 34.45-34.90 baht/dollar compared to last week The baht closed at 34.64. baht/dollar after trading in the range of 34.47-34.87 baht/dollar, with the dollar depreciating against most major currencies except the yen. The US Federal Reserve (Fed) kept interest rates at 5.00-5.25% as expected, while the midpoint dot plot of 5.6% signaled the Fed may raise rates by another 50bp before the end of the year. The Fed said it had paused interest rate hikes in more than a year to allow it to assess the data. The Fed chairman said the timing of the current rate hike was less important than trying to find the right destination. The euro hit a five-week high against the dollar after the European Central Bank (ECB) raised deposit rates by 25bp to 3.50%, a 22-year high, signaling further hikes as The ECB raised its eurozone core inflation forecasts to 5.1% this year and 3.0% in 2024. Passive stimulus measures to ensure Japan can sustainably achieve its 2% inflation target. As a result, the yen fell to a 6-month low against the dollar. Foreign investors sold Thai stocks net 2,958 million baht and bond sales 15,182 million baht, mainly due to maturity instruments.
for an overview this week. Global Markets Group Krungsri said investors will pay attention to the Fed chairman’s June 21-22 speeches to assess the direction of US interest rates going forward. some While the Bank of England (BOE) is likely to raise interest rates by 25bp at its June 22 meeting, the BOJ’s policies, including a brighter risky asset sentiment, will continue to pressure Japanese real yields and the currency. Yen at this time
for domestic factors The Bank of Thailand commented that Thailand’s policy rate is still slightly more relaxed than the neutral level (Neutral). A gradual rate hike is an appropriate policy considering the economy is expanding while inflation remains high. Such a stance makes us look more likely that the Monetary Policy Committee (MPC) may move forward with an interest rate hike from 2.00% at its August meeting.
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