Kasikorn Bank (KBANK) sees the baht move next week (10-14 Oct) at 37.00-37.80 baht per dollar. From the market close on Friday, October 7, 2022 at 37.37 baht per dollar. After touching the highest level in two weeks at 37.13 baht per dollar.
in the past week The baht appreciated Hit the highest level in two weeks, with the baht weakening in a short period. The week started in the direction of Asian currencies amid concerns over the global economic situation. before turning back, gradually strengthening during the rest of the week. while the dollar depreciated as the US bond yield declined. US economic data such as the ISM manufacturing index and job openings were weaker than market expectations. Dollar sales slowed somewhat at the end of the week. But the dollar still lacks new support. Because the market is still waiting to closely monitor the US labor market data.
As for the view on the baht situation, the Bank of Thailand stated that the depreciation of the baht Caused by the appreciation of the dollar. This is an uncontrollable factor, whereby the Bank of Thailand will take care of the market at certain periods to reduce the volatility of the baht.
Between October 3-7, foreign investors sold net Thai stocks of 1,202 million baht and had net inflow status, entering the bond market for 3,171 million baht (net buying bonds of 4,142 million baht, but with expiring debt securities of 971 million baht).
While the key factors to be monitored next week include foreign capital flows. currency situation in the region Views on the monetary policy direction of the Federal Reserve (Fed) officials and the global economic outlook revised by The International Monetary Fund (IMF). The key US economic numbers are consumer inflation expectations. consumer price index Producer Price Index September retail sales October Consumer Confidence Index (preliminary) and the number of weekly unemployment benefits. and Chinese economic numbers for September as well