2023-05-27 03:00:00
“Kasikorn Research Center” reported the baht last week. depreciated most of the week. The baht gradually depreciated. Corresponds to regional currencies and foreign investors’ net sell position on Thai stocks and bonds. While the market continues to monitor the political situation in Thailand closely.
In addition, the dollar Appreciated in line with the increase in US bond yields. There was also a boost from Fed officials’ statements and US economic data. better than expected which stimulates some markets Come back to assess the possibility of a US interest rate hike in June once more, although most people think that The Fed is likely to keep interest rates at the same level.
The baht hit its lowest level in more than two months at 34.77 baht per dollar. before reducing the depreciation period to some extent at the end of the week While the market returns to wait for the results of the MPC meeting (May 31) and the conclusion of negotiations to raise the US debt ceiling.
On Friday, May 26, 2023, the baht closed at 34.67 baht per dollar compared to 34.38 baht per dollar. On the previous Friday (May 19) for the investment portfolio status of foreign investors between May 22-26, 2023, foreign investors sold net Thai shares of 12,189 million baht and had Net status. Outflows from the Thai bond market 20,824 million baht (net selling bonds 17,664 million baht and debt instruments expired 3,160 million baht)
Next week (May 29-June 2), Kasikorn Bank looks at the movement of the baht at the level of 34.30-34.90 baht per dollar. While the Kasikorn Research Center assesses important factors to be monitored, namely the results of the MPC meeting (May 31), the political situation in the country. Export Figures/Salary Economic Report April of Thailand Foreign Capital Direction and the outcome of negotiations to increase the debt ceiling of the United States
While the key US economic numbers are non-farm payroll numbers. unemployment rate ADP private payrolls, manufacturing PMI/ISM, May consumer confidence, April JOLTS data, weekly jobless claims and Fed’s Beige Book report. Markets are also waiting. Follow China’s May manufacturing PMI, Eurozone and UK as well.
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