2023-12-23 09:42:17
KBank expects the “baht” range next week to be at 34.20-34.90 baht, a sign of foreign capital. Export figures and Thai economic indicators for November
Kasikorn Bank (KBank) Look at the movement of Baht value next week (25-28 Dec.) at the level of 34.20-34.90 baht/dollar from the market closing on Friday, Dec. 22, 2023 at 34.58 baht/dollar.
There are important factors that need to be followed in the country, including signals of foreign capital. Export figures and Thai economic indicators for November Meanwhile, important foreign economic figures include the house price index in October. Home sales awaiting closing in November and the number of weekly U.S. jobless claims Including data on industrial profits for November in China.
In the past week, the baht weakened initially in line with most currencies in Asia. Including the weakening yen. After the Bank of Japan (BOJ) decided to maintain monetary policy as before. and did not send a clear signal regarding the timing of a move away from ultra-loose monetary policy. While the dollar There is support from signals from officials of the Federal Reserve (Fed). which reflects that The timing of the Fed’s interest rate cuts in 2024 is unlikely to come soon. In addition, the depreciation of the baht also coincides with foreign investors’ net selling signals for Thai bonds.
The baht returned to move within a narrow range in the middle of the week amid light transactions. But moved to strengthen at the end of the week in line with the rising price of gold in the world market. While the dollar There are negative factors from the 3rd quarter 2023 GDP figure of the United States, which was revised downward to expand at 4.9% per year, and from expectations regarding the possibility of an interest rate cut by the Fed in 2024.
For the investment portfolio status of foreign investors between 18-22 Dec. 2023 Foreign investors net sold 3,713 million baht of Thai stocks and had net outflows from the Thai bond market of 13,035 million baht (net sold bonds of 6,144 million baht and had expired debt instruments of 6,892 million baht).
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