2023-08-12 11:59:00
Kasikorn Bank (KBANK) looks at the movement of the baht next week (Aug. 15-18) at the level of 34.75-35.35 baht per dollar. From the market close on Friday, August 11 at 35.07 baht per dollar. Important factors to monitor next week include political factors in Thailand. and direction of foreign capital
While key US economic figures include consumer inflation expectations, retail sales, housing starts. Industrial production in July. New York and Philadelphia Fed manufacturing surveys for August Records of Fed meeting held on July 25-26 and weekly number of jobless claims
In addition, the market is waiting to follow the 2Q23 GDP figures for Japan and the Eurozone. Including Chinese economic figures in July, such as industrial production, retail sales, unemployment rate. and investment in fixed assets
for the past week The baht depreciated past the 35.00 level to reach the lowest level in one month at 35.19 baht per dollar. at the end of the week
The baht continued to depreciate in line with other Asian currencies, led by the yuan, which faced pressure from a bigger-than-expected contraction in Chinese exports and imports in July. and underscores the fragile outlook of the Chinese economy. In addition, the baht still has a negative factor from net selling of Thai bonds by foreign investors while waiting for domestic political issues to clarify.
In addition, the dollar received some additional support as Fed officials continued to comment on the need for further interest rate hikes to curb inflation, despite the recent increase in US consumer prices in July. less than the market expected However, the range of baht depreciation was limited ahead of the long weekend in the domestic market.
Investment portfolio status of foreign investors Between 7-11 August 2023, foreign investors net sold Thai stocks at 116 million baht and net outflows from the Thai bond market at 17,835 million baht (net sold bonds at 10,674 million baht). and expired debt securities of 7,161 million baht)
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