2023-07-05 15:02:23
Global Markets Group Bank of Ayudhya Public Company Limited has a view on the direction of the baht this week that The baht this week tends to move within a range of 34.90-35.70 baht/dollar compared to last week. The baht closed at 35.43 baht/dollar after trading in the range of 35.15-35.72 baht/dollar, with the baht hitting its weakest level in seven months while the dollar strengthened against most major currencies last week. After the president of the US Federal Reserve (Fed) reiterated that it may raise interest rates several times and did not rule out the opportunity to raise interest rates at the meeting on July 25-26, stating that keeping interest rates at the next meeting The latest objective is to assess the impact on the economy from recent interest rate hikes. As for policy implementation in the future, it will depend on economic conditions. While the Fed chairman commented that the current policy is closer to the appropriate point.
However, efforts to bring inflation back down to targets could take another year or two as most US economic data show solid sentiment. The yen hit a seven-and-a-half-month low as investors watched whether the Bank of Japan (BOJ) would intervene to limit the yen’s depreciation. After the BOJ intervened last year with USD/JPY above 145, foreign investors bought Thai stocks net 1,214 million baht, but bond sales amounted to 3,199 million baht. In the first half of the year, the baht depreciated. 2.6%
for an overview this week. Global Markets Group Krungsri stated that the market will pay attention to the release of the minutes of the Fed meeting on June 13-14 and the June employment data of the US, which will affect the assessment of the direction of the Fed interest rate. next At the moment, investors expect an 84% probability that the Fed will raise interest rates 25bp to 5.25-5.50% at its July 25-26 meeting. Interest rates are out to 67 despite a slowdown in personal consumption figures in May.
for domestic factors Thailand had a current account deficit of $2.8 billion in May. Meanwhile, the BOT assessed that economic activity in June improved in line with the number of tourists. Going forward, the global economy and financial markets are highly uncertain and volatile. establishment and policies of the new government high cost of living and impact on vulnerable groups.
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