The baht appreciated in line with most Asian currencies. Meanwhile, Thai stocks rose from the previous week on the statement of the Fed chairman.
The baht appreciated in line with most Asian currencies. Meanwhile, Thai stocks rose from the previous week on the statement of the Fed chairman.
Summary of the movement of the baht
– The baht gradually strengthened. The appreciation of the baht is in line with the direction of most Asian currencies. There are also positive factors from capital inflows. Foreign investors have a net buy position in both the stock market and Thai bonds. while the dollar Lack of additional support After the Fed chairman signaled to tighten monetary policy to curb inflation. But it will not affect the US economy. some slowdown at the end of the week following US inflation data That moved up and the comments of Fed officials. Support the opportunity to raise interest rates in the March meeting this
– On Friday (Jan. 14), the baht closed at 33.20, compared to 33.66 baht per dollar. On the previous Friday (Jan. 7)
For the next week (17-21 Jan. 20), KASIKORNBANK sees the movement of the baht at 32.90-33.70 baht per dollar. Meanwhile, the Kasikorn Research Center assesses important factors that need to be monitored, namely, the direction of foreign funding. and the COVID-19 situation Bank of Japan Monetary Policy Meeting and China’s LPR rate setting, while important US economic numbers are home building data. Second-hand home sales in Dec. housing market index New York Fed and Philadelphia Fed manufacturing surveys for the month of January and weekly jobless claims. In addition, the market is waiting to track 4Q21 GDP and December economic data. such as industrial production and retail sales as well
Summary of the movement of the Thai stock market
– Thai stocks rose But support began to be limited at the end of the week. The SET index closed at 1,672.63 points, up 0.91% from the previous week. The average daily trading value was 84,041.18 million baht, down 13.52% from the previous week, while the mai index rose 7.99% to close at 682.26 points.
– Thai stocks gradually rose in line with foreign investors’ net buy positions throughout the week, led by technology stocks, energy sectors (supported by oil prices), and banking and finance before the 4Q21 financial statements were announced. The Thai and international stock markets were also driven by the Fed chairman’s statement. which reflects that The Fed will raise interest rates cautiously so as not to have an impact on the US economy. However, the uptrend in Thai stocks began to be limited at the end of the week. As investors return to worry regarding the chance of the Fed’s interest rate hike in March.
For the next week (17-21 Jan. 20), Kasikorn Securities Co., Ltd. sees the SET index having support at 1,660 and 1,650 points, while resistance at 1,685 and 1,700 points, respectively. The Kasikorn Research Center assesses the key factors that need to be monitored, namely the situation of COVID-19. Investment direction of foreign investors and the 4Q21 performance of Thai companies, especially the banking group The important US economic data is home building data and second-hand home sales in December. 64 as well as the number of weekly welfare applicants while other foreign factors include the BOJ meeting, the consumer price index in December. 64 Japan and the Eurozone as well as the 4Q21 GDP figures and the December economic data. 64 of China, such as investment in fixed assets
.
