25 July 2022 – 10:27
The Thai stock market opened down 0.16 points, touching 1,552.57 points. The US business sector was in a contraction. Follow the FOMC meeting, expect to raise interest rates
The atmosphere of investing in the Thai stock market this morning (July 25) opened at 10.00, the index dropped 0.16 points, touching 1,552.57 points, trading value 3,748.64 million baht.
Analysts at AIRA Securities expect the market today “Sideways” to see support at 1,540 / 1,530 and resistance at 1,560 / 1,570, expecting the market to receive some weak negative sentiment from international markets.
After Friday night, S&P Global reported the Purchasing Managers’ Index (PMI), including manufacturing and services. US preliminary in July dropped to 47.5, below 50.0, reflecting the US business sector is in a contraction.
However, this week the market is expected to give weight to the US Federal Reserve’s FOMC meeting. (FED) closely It is expected to raise interest rates to only 0.75%, but recommends following the Fed’s outlook on inflation. and the US economy in the future
We expect that there is a tendency that the monetary policy tightening may be eased somewhat. As the US economy is likely to enter a recession, the Atlanta Fed’s GDPNow model indicates that the US economy contracted 1.6% in Q2/22.
While the US inflation outlook is likely to see a peak in June as energy prices in July have started to weaken somewhat. It is expected that the market may ease the trend of interest rate hikes in the next period, in line with the CME FED Watch Tools.
The latest indicates that the US interest rate at the end of the year will be at 3.50-3.75% and interest rates will begin to stabilize during the next year. This reflects the market’s forecast that the Fed’s interest rate hike has already reached its peak, which will result in risky asset prices having a chance to recover in the next period.
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