2023-06-17 02:19:06
Kasikorn Bank (KBANK) views the movement of the baht next week (June 19-23) at a level of 34.40-34.90 baht/dollar. to Congress Foreign capital direction (Flow), political situation and Thai export figures in May, while there are important US economic numbers, including housing market index in June, numbers starting to build houses. Second hand home sales in May and number of weekly jobless claims Markets are also awaiting the outcome of the BOE meeting, China’s central bank good customer lending rate (LPR) and preliminary PMI data for June for the eurozone, the UK and the US.
Last week, the baht fluctuated within a range. The baht appreciated at the beginning of the week. While the dollar lacked support as the market waited closely for US inflation data, CPI and Fed meeting outcomes. However, the baht depreciated to near 34.90 baht/dollar in the later sessions amid dollar support from the Fed dot plots, which reflected the possibility of two more US policy rate hikes for the remainder of the year. Despite the Fed’s resolution to keep interest rates unchanged at the 5.00-5.25% range in the meeting on 13-14 June, the past.
In addition, the baht depreciated in line with Asian currencies overall. This was led by the yuan, which faced pressure from weaker-than-expected Chinese economic data and signs of monetary easing by the People’s Bank of China. However, the baht turned around to appreciate once more at the end of the week. After the dollar weakened along with bond yields. Because the market returns to wait to follow the US economic data. After mixed economic data, the SET Index rebounded towards the end of the week. according to the direction of foreign stock markets In addition, the buyback of energy stocks helped strengthen the baht. While the Thai stock index continued to rise from the previous week. to find confirmation that Will the Fed raise rates two more times as signaled by the dot plots?
On Friday, June 16, 2023, the baht closed the market at 34.66 baht / dollar, compared to 34.62 baht / dollar on the previous Friday (June 9) for the portfolio status of foreign investors during the day. On June 12-16, 2023, foreign investors sold net Thai stocks for 2,957.50 million baht and had Net Outflows status from the Thai bond market for 13,193 million baht (although they bought bonds for 2,591 million baht, but there were debt instruments expired. 15,784 million baht)
By InfoQuest News Agency (17 June 2023)
Tags: Forex, KBANK, baht, Kasikorn Bank, exchange rate, baht
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