The Thai stock market this morning opens down 7.57 points, the Fed may slow down and accelerate. Follow the APEC meeting
Analyst IRA Securities expects the market today “Sideways” looking at support at 1,630 / 1,622 and resistance at 1,640 / 1,650. After last Friday, it rose well in accordance with the hope that the US Federal Reserve (FED) has a chance to slow down interest rates in the next phase. and may start gradually reducing interest rates during 3Q-4Q’23
After the consumer price figure (CPI) in October weakened to 7.7%, lower than the market expected. Indicates that the inflation situation in the United States has begun to slow down and the direction of US inflation has passed its peak. The US Consumer Confidence Index for November came in at 54.7.
continued to decline and lower than market expectations In addition, the latest US midterm election results, with the Senate seat count tied at 49:49, gives the Democrats a tendency to continue to control the majority in the Senate due to the presidency in power. In a vote of 1 vote, in the event that the results of the votes have equal votes
With Republicans expected to hold a majority in the House of Representatives, stimulus measures next year may face more difficulties. As a result, the US economy is in a weak state and is at risk of entering a recession once more, which is expected to be a pressure factor for the FED to cut interest rates faster than the market expected.
Most recently, CME FED Watch Tools indicate that the market expects the FED to raise interest rates to 0.50% in December, before cutting the level of rate hikes to 0.25% twice next year and will The interest rate was maintained at no more than 5.00%, lower than the previous forecast. It is expected that it will continue to support the direction of the price of risky assets. It is also a pressure on Dollar Index to weaken further, recently moving to the level of 106.4+/- support the market to remain in risk-on condition.
As for domestic factors this week, it is advisable to monitor the APEC meeting, expecting to see more economic cooperation in the APEC group, viewed as a positive factor supporting the direction of the Thai economy over the next year, which can continue to recover.
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