6 Nov 2020
Financial Markets
The Baht broke the THB31.00/USD level, boosted by stronger Yuan and other Asian currencies. Meanwhile, the US dollar faced sell-offs amid expectations that Democrat Joe Biden would be the winner of the 2020 presidential election. The Baht also gained on hefty net foreign bond buying orders of THB25.86 billion during the week. It hit a 9-month high of THB30.55/USD later in the week while market participants eyed on uncertain signals after the US election, and the political situation in Thailand. ... Read more
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30 Oct 2020
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22 Oct 2020
16 Oct 2020
The Baht weakened. The Baht weakened early in the week in line with other regional currencies, including the Yuan after the PBOC announced a cut in FX forward reserve requirements to 0%, from the previous 20%. The Baht also fell on net foreign stock selling orders. However, the Baht traded in a narrow range later in the week as investors were monitoring domestic political issues, negotiations on the US stimulus measures and situations in the lead up to the US presidential election. ... Read more
25 Sep 2020
The Baht pared losses somewhat, after having hit an almost 2-month low of THB31.67/USD. The Baht weakened along with falling risky assets and other regional currencies. Its sentiment was also weighed down by domestic political factors. Meanwhile, the US dollar rose on concerns about the global economic outlook and higher risk of the COVID-19 situation in many countries, especially in Europe. The Baht’s losses were capped later in the week while market participations awaited key events next week.... Read more
18 Sep 2020
The Baht strengthened further in line with the Yuan and other regional currencies, supported by news regarding the development of COVID-19 vaccines. Meanwhile, the US dollar faced sell-offs after the Fed signaled an easing monetary policy stance and vowed to keep low interest rates for a longer period. The US dollar was also pressured by weak US economic data (i.e. an unexpected fall in housing starts in August). A stronger Baht was also in line with net foreign bond buying orders. ... Read more
11 Sep 2020
The Baht traded in a narrow range, but rose slightly against the US dollar. The Baht edged up early in the week in line with net foreign bond buying orders, as well as other Asian currencies, including the Yuan. Meanwhile, the US dollar faced sell-offs especially against the EUR after the ECB kept its monetary policy tools unchanged. The US dollar also fell on a weaker-than-expected US jobless claims data. The Baht pared gains somewhat, as its sentiment was hit by domestic COVID-19 and political issues. ... Read more
3 Sep 2020
The Baht weakened against the US dollar. It hit a 1-week low of THB31.45/USD before long holidays. The Baht fell along with net foreign stock selling orders, while the US dollar rose on stronger-than-expected US ISM and PMI manufacturing surveys. The Baht sentiment was also weighed down by concerns about domestic political and COVID-19 situations.... Read more
28 Aug 2020
The Baht strengthened along with other regional currencies, including the Yuan, following positive signals seen in the US-China Phase 1 trade deal review and technically buying-orders during the week. The Baht extended gains later in the week and hit a 1-week high of THB31.16/USD, while the US dollar weakened after the Fed chairman’s announcement about a major policy shift to average inflation targeting was seen as the signal to keep its policy rate lower for longer periods.... Read more
21 Aug 2020
The Baht weakened against the US dollar. The baht briefly rose early in the week, as the US dollar fell along with US bond yields on the back of disappointing US economic data. However, the Baht tumbled later in the week amid concerns about domestic factors, including the political and COVID-19 situation, as well as net foreign bond selling orders. In addition, the US dollar rebounded somewhat after the FOMC minutes gave no signal for a possibility that the Fed would implement the yield curve control in the near future. ... Read more
14 Aug 2020
The Baht rose slightly, while the US dollar dropped on US-China tensions before the scheduled meeting to discuss about the progress of Phase 1 trade deal. The US dollar also faced sell-offs amid concerns about the US new stimulus measures due to different stances between the White House and Congress. However, the Baht pared gains somewhat at the end of the week, as investors kept an eye on the situation between the US and China, as well as Thailand’s GDP report for 2Q20, which was seen to contract at the double-digit rate. ... Read more
7 Aug 2020
The Baht fell later in the week, after having risen in early to mid week along with other regional currencies. In addition, the Baht was partially supported by the rising global gold prices. It broke the THB31.00/USD to hit a new 1-month high of THB30.98/USD. However, the baht pared gains somewhat later in the week on position adjustments after the BOT’s comments that its volatility has increased, and the authority would closely monitor its movements. The US dollar also rebounded before the release of the US Non-farm Payrolls data for July. ... Read more
17 Jul 2020
The Baht weakened to a 1-1/2 month low last week. The Baht depreciated continuously amid domestic pressures, including concerns over the risk of a second wave of COVID-19 in Thailand and domestic political issues. In addition, the Baht was pressured by technical factors after the Baht broke the key THB31.50/USD level. The Baht hit a 1-1/2 month low of THB31.76/USD at the end of the week, but later pared losses somewhat, in line with most of regional currencies due to the rising tensions between the US and China. ... Read more
3 Jul 2020
The Baht traded at the weaker side of THB31.00/USD in line with some other regional currencies. The Baht also fell after the Bank of Thailand signaled that a stronger Baht could have negative impacts on Thailand’s economy, while related officials have considered needed measures to help stabilize the Baht movement. The US dollar was supported by short-covering orders and also acted as a safe-haven currency amid concerns over the risk of a second wave of COVID-19 in the US and the tensions between US-China regarding Hong Kong issues.... Read more
26 Jun 2020
The Baht rose in line with other regional currencies amid easing lockdown measures. The Asian currencies were also supported by an assurance that the phase one US-China trade deal is still intact. The Baht rose slightly after the BOT’s MPC kept its policy rate unchanged at 0.50%. However, the Baht’s upside gains were capped somewhat due to the strengthening US dollar as a safe-haven currency amid concerns about the global economic outlook and the risk of a second wave of COVID-19. ... Read more
19 Jun 2020
The Baht traded in a narrow range against the US dollar. The Baht weakened early to mid-week along with other regional currencies, as the US dollar gained as a safe-haven currency amid worries about a second wave of the COVID-19 pandemic, especially in the US and China. The US dollar was also supported by stronger than expected US economic data, such as retail sales. However, the Baht pared those losses, and rebounded later in the week on strong sentiment of Asian currencies, while the market participants awaited new factors, including the COVID-19 situation in many countries. ... Read more
12 Jun 2020
The Baht broke the THB31.00/USD level to hit an over 4-month high of THB30.83/USD. The Baht rose early in the week in line with net foreign bond purchases, US dollar sales coming from exporters, as well as technical US dollar selling orders. In addition, the US dollar faced sell-offs after the Fed signaled to implement easing monetary policy and gave a view for US economic outlook that the US GDP growth was seen contracting 6.5% this year. However, the Baht’s upside gains were capped somewhat as market participants kept an eye on the BOT’s stance on the Baht movement. ... Read more
5 Jun 2020
The Baht hit the strongest level in 2-1/2 months, as the currency traded near THB31.45/USD. The Baht rose along with other regional currencies, as well as net foreign Thai stock and bond buying orders. The Baht gained, although the Bank of Thailand (BOT) has signaled to closely monitor the Bath’s movement to ensure that it is in line with the country’s fundamentals. Meanwhile, the US dollar was barely moved despite a report showing that US private payrolls dropped less than expectation in May, as market participants awaited US nonfarm payrolls data later in the week. ... Read more
29 May 2020
The Baht gradually rose after having fallen early in the week on sell-offs of Thai stocks and bonds by foreign investors. Meanwhile, the US dollar was supported by its safe haven appeal amid rising tensions between the US-China. The Baht rebounded later in line with other regional currencies on hopes for the development of a COVID-19 vaccine and gradual reopening of economies of many countries, including Thailand. However, the Baht’s upside gains were capped somewhat at the end of the week, as investors kept an eye on the US policies against China after the country passed a national security legislation in Hong Kong. ... Read more
22 May 2020
The Baht gradually strengthened, but pared gains somewhat at the end of the week. The Baht rose early in the week in line with the recovery of risky assets on hopes for the COVID-19 vaccine, which supported other regional currencies, as well. In addition, the sell-offs of US dollar by exporters and technical factors supported the Baht. However, the Baht pared gains and weakened somewhat at the end of the week due to capital outflows, while investors bought back US dollar for position adjustments amid renewed tensions between US-China. ... Read more
15 May 2020
The Baht rose against the US dollar, and hit a 2-month high of THB32.02/USD around mid-week. The Baht rose amid net foreign bond buying orders and signs for reopening economic activities in many countries. Meanwhile, the US dollar fell on a disappointing US April CPI data, posting the biggest drop in 11 years by 0.8% MoM. However, the Baht’s upside gains were capped later in the week after foreign investors shifted to sell Thai bonds while the US dollar recovered somewhat after the Fed chairman ruled out negative interest rate in the US. ... Read more
8 May 2020
The Baht rose to a 1-1/2 month high against the US dollar. The Baht edged down early in the week in line with net foreign stock and bond selling orders, while the US dollar rose as a safe-currency on worries about the global economic recession. However, the Baht rebounded strongly later in the week, along with other regional currencies, on the US dollar sell-offs for position adjustments ahead of the release of US non-farm payrolls data.... Read more
24 Apr 2020
The Baht rose slightly before paring gains somewhat later in the week. The Baht strengthened during early- to mid-week amid US dollar-selling orders from exporters, and net foreign bond buying orders. The Baht and other regional currencies also gained along with other risky assets, led by oil prices, on the back of rising tensions between the US and Iran. The Baht pared some gains later in the week, as the US dollar rose as a safe-haven currency amid concerns about the economic impact from the COVID-19 outbreak. ... Read more
17 Apr 2020
The Baht traded in a narrow range but rose slightly later in the week. The Baht weakened earlier in the week amid concerns about the impacts of COVID-19 on the global economy, including that of Thailand. However, the Baht recovered later in the week on USD-selling orders from exporters, while the US dollar fell on signs seen in the slowing rates of COVID-19 infections in many countries, leading them to relax lockdown rules, and devise plans to reopen their economies.... Read more
10 Apr 2020
The Baht rose against the US dollar. The Baht gained early in the week along with other Asian risky assets on the back of hopes that the COVID-19 outbreak would lessen in many countries. Meanwhile, the US dollar faced sell-offs later in the week, after the Fed unveiled new relief measures worth USD2.3 trillion to support the US economy. However, foreign stock and bond selling orders capped the Baht’s gains somewhat. ... Read more
3 Apr 2020
The Baht weakened against the US dollar. The Baht was pressured by concerns over the economic impacts of COVID-19 worldwide, including Thailand, as well as net foreign stock and bond selling orders. In addition, the Baht fell along with other regional currencies. However, the Baht pared losses somewhat at the end of the week on position adjustments before the release of US non-farm payrolls. ... Read more
27 Mar 2020
The Baht recovered, after having briefly weakened to THB33.00/USD amid concerns over negative impacts of the COVID-19 outbreak in Thailand, and net foreign fund outflows. The Baht, however, rebounded later in the week, as the US dollar tumbled on the Fed’s announcement on the unlimited QE measures. The surge in the US jobless claims to a record high of 3.28 million in the week ended March 21 also weighed down the US dollar sentiment. ... Read more
20 Mar 2020
The Baht continued to weaken against the US dollar. The Baht fell along with net foreign stock and bond buying orders, as well as concerns about the Thai economic outlook due to the COVID-19 outbreak. The Baht hit a 15-month low of THB32.74/USD before rebounding somewhat later in the week, after several central banks surprisingly cut their policy rates and announced measures to address liquidity problems, triggered by heightened risk from the COVID-19 pandemic. ... Read more
13 Mar 2020
The Baht weakened against the US dollar. The Baht fell while the global and Thai financial markets were highly volatile amid rising concerns towards the WHO’s announcement that the COVID-19 outbreak entered the pandemic phase. The Baht was also pressured by weak regional currencies, and net foreign selling orders for Thai stocks and bonds worth THB24.7 billion and THB33.0 billion, respectively, during the week. The Baht hit an almost 1-year low of THB32.09/USD before rebounding somewhat, along with the SET index before the weekend. ... Read more
6 Mar 2020
The Baht moved in the tight range throughout the week, although it strengthened at the end of the week. The Baht was under pressure (in line with other regional currencies) from concerns over the economic impact of the COVID-19 outbreak, while net foreign selling orders for Thai stocks and bonds during the week also weighed on the Baht sentiment. However, the Baht pared losses and rebounded somewhat after the Fed cut its benchmark rate by 0.50%. In addition, the Baht was supported by the US dollar sell-offs due to the position adjustments before the release of Non-farm Payrolls data at the end of the week. ... Read more
28 Feb 2020
The Baht rebounded later in the week, having recouped losses during early to mid-week, after the Baht weakened in line with other regional currencies amid growing concerns about the COVID-19 outbreak outside of China. The Baht also fell on net foreign selling orders for Thai stocks and bonds. The Baht’s rebound was partly due to position adjustments after it hit a 9-month low of THB31.93/USD during the week. ... Read more
21 Feb 2020
The Baht weakened along with the Yuan and other regional currencies amid concerns about the COVID-19 outbreak situation, after there was an increase in COVID-19 infections outside China. In addition, the Baht fell on technical selling orders, after it broke the THB31.50/USD level. Signs of a weak economic outlook, as well as net foreign selling orders for Thai stocks and bonds pressured the Baht sentiment, while the US dollar rose on positive views on the US economy, according to the latest FOMC minutes. ... Read more
14 Feb 2020
The Baht rose slightly against the US dollar. The Baht was supported by net foreign buying orders for Thai bonds and strong regional currencies earlier in the week after a report showed that the rate of Coronavirus (COVID-19) infections slowed somewhat. However, news that there was a surge in COVID-19 cases in China hurt sentiment of Asian currencies, including the Baht, and triggered concerns about its impact on the global economy. ... Read more
7 Feb 2020
The Baht weakened later in the week. The Baht rose slightly early in the week due to position adjustments before the BOT’s MPC meeting. However, the Baht dropped later during the rest of the week after the BOT decided to cut its policy rate to 1.00%, while the BOT governor said that although the Baht has weakened since the beginning of the year, but it was not in line with Thailand’s fragile economic fundamentals. In addition, the Baht fell on net foreign stock and bond selling orders, while the US dollar rose on strong US economic data, including manufacturing and service PMIs, as well as private-sector employment.... Read more
27 Dec 2019
The Baht rose to test THB30.15/USD amid the US dollar’s sell-offs on the back of weaker-than-expected US durable goods and new home sales data. However, the Baht’s weekly movement was tight due to thin trading volume before the year-end holidays. ... Read more
20 Dec 2019
The Baht rose to test the THB30.15/USD. The Baht strengthened on the back of strong regional currencies, led by the Yuan amid news reports that the US and China were close to finalize the first phase of a trade deal. The US dollar faced sell-offs after the Fed signaled that it would not raise its policy rate if there was no inflationary pressures next year. Net foreign bond buying-orders also supported the Baht. ... Read more
13 Dec 2019
6 Dec 2019
The Baht weakened against the US dollar. The Baht faced sell-offs early in the week in line with falling safe-haven currencies and assets, triggered by stronger-than-expected Chinese PMI data. The Baht fell further later in the week to a 1-month low of THB30.38/USD, after the BOT signaled to closely monitor the Baht movements and warned that the Baht would likely be volatile and might not have one-sided gains as seen in the past months. The Baht’s losses were also in line with net foreign selling orders of Thai stocks. ... Read more
29 Nov 2019
The Baht traded in a narrow range almost all trading days of the week. The Baht fell early in the week after both the US and Chinese Presidents signaled a possible trade deal between the two countries. The US dollar also gained on stronger-than-expected 3Q-2019 GDP and October durable goods orders data. However, the Baht found some support during the week amid heightened tension between the US and China on issues related to Hong Kong, and the first phrase of trade deal before the deadline set by the US to raise tariffs on imported goods from China on December 15, 2019.... Read more
15 Nov 2019
The Baht strengthened against the US dollar. Regarded as a safe-haven currency, the Baht rose in line with the JPY amid concerns about the US-China trade talks. The US President Donald Trump said earlier in the week that there was no agreement yet to roll back tariffs on imported goods from China, and the US could impose more tariffs if the talks ended without the first phase trade deal. However, the Baht was later traded in a narrow range as investors awaited developments of the US-China negotiations... Read more
8 Nov 2019
The Baht fell to THB30.43/USD, the weakest level in 3 weeks. The Baht faced hefty sell-offs after the BOT’s MPC decided to cut its policy rate to 1.25% and relaxed rules to facilitate capital outflows and lessen pressure on the Thai baht. Moreover, a weaker Baht was also in line with other safe-haven currencies and assets, including the Yen and gold amid positive signs for the first phase of the US-China trade deal. ... Read more
1 Nov 2019
The Baht traded in a narrow range near THB30.15/USD, which is the strongest level in over six years. The Baht briefly fell early in the week in line with a weaker JPY, which was seen as a safe-haven currency after the US and China signaled that they were close to finalize some parts of their trade deal. However, the Baht strengthened later on the back of the US dollar’s broad sell-offs following the Fed’s decision to cut its policy rate at their third straight meeting to 1.50-1.75%. The US dollar also fell on weaker-than-expected US economic data.... Read more
25 Oct 2019
The Baht hit a new 6-year high. The Baht rose along with other regional currencies amid foreign investors’ net buying orders for Thai bonds early in the week. Meanwhile, the US dollar fell on weak US economic data, reinforcing expectations that the Fed would cut its benchmark rate further at the FOMC meeting scheduled for October 29-30. The Baht extended gains and hit the strongest level in over 6 years on technical-buying after it strengthened past the THB30.20/USD level later in the week. ... Read more
18 Oct 2019
The Baht rose to test the THB30.25/USD level last week. The Baht briefly fell early-to mid-week in line with other regional currencies amid concerns about the slower global growth outlook. However, the Baht rebounded later in the week on the back of the US dollar’s sell-offs due to weak US economic data, reinforcing expectation that the Fed might cut its policy rate at the FOMC meeting scheduled for this month. Positive signal of the BREXIT deal also weighed down the US dollar sentiment. ... Read more
11 Oct 2019
The Baht weakened late last week after hitting an over 6-year high of THB30.25/USD. The Baht rose early in the week as a safe-haven currency amid concerns about conflicts between the US and China over their trade renegotiations, as well as between the EU and UK on the BREXIT issue. However, the Baht pared those gains somewhat later in the week after the BOT signaled to announce measures in order to rein in the Baht’s appreciation in the next 1-2 months. In addition, gains on risky assets on the back of hopes for the US-China trade talks weighed down the Baht sentiment. ... Read more
4 Oct 2019
The Baht strengthened late last week. The Baht fell early to mid-week on weak regional currencies, and risky assets amid heightened trade war tension, concerns over BREXIT, and an economic slowdown in the US and Eurozone. The Baht also tumbled along with net foreign stock selling orders. The Baht, however, rebounded strongly later in the week, as the US dollar was pressured by the disappointing US economic data, including ADP employment figures and the ISM service survey for September. ... Read more
23 Aug 2019
The Baht rose against the US dollar. The Baht rose early to mid week, along with other regional currencies while the US dollar faced sell-offs on concerns about the US economic outlook and falling US Treasury bond yields. The Baht extended gains against the US dollar, although foreign investors were net sellers in both Thai stock and bond markets during the week. Later in the week, market participants awaited the Fed Chairman’s speech at the Jackson Hole Economic Policy Symposium.... Read more
16 Aug 2019
The Baht weakened against the US dollar. The Baht fell along with regional currencies, while the US dollar rose after the US announced to delay imposing tariff on some Chinese imports to December 15. The Baht’s weakness was also in line with net foreign stock and bond selling orders, following sell-offs of risky assets amid the US recession concerns triggered by the US inverted yield curve. The Baht faced a weak bias later in the week, as the US dollar gained on stronger-than-expected US retail sales data for July. ... Read more
9 Aug 2019
The Baht briefly fell after the FOMC meeting. The Baht rose early in the week, as the US dollar fell further on weak US Non-farm Payrolls data and concerns over the US-China trade tensions. The Baht extended its gains later in the week, although it fell briefly after the BOT’s MPC unexpectedly cut its policy rate to 1.50%. The Baht was supported by dollar-selling orders from exporters, Thai bond-buying orders from foreign investors, as well as a weaker US dollar. Asian currencies also rebounded somewhat, after falling in line with the Yuan early in the week. ... Read more
26 Jul 2019
The Baht weakened against the US dollar. The Baht fell early to mid week amid expectations that the Fed might not aggressively cut its policy rate in the near future. The Baht’s weakness was also in line with net foreign bond selling orders. Meanwhile, the US dollar rose on the budget deal between the Congress and President Trump’s administration, as well as the IMF’s upward revision to the US 2019 GDP outlook. Also, market participants became more cautious towards the Fed’s stance at its meeting scheduled for the end of this month after US economic data came out stronger than expected. ... Read more
12 Jul 2019
The Baht fluctuated and fell later in the week after the release of BOT’s new Baht measure. The Baht fell early in the week on the US dollar short-covering orders before the Fed Chairman’s testimony to the US Congress. The Baht, however, rebounded after the Fed Chairman’s comment was seen as a signal to cut rate in the near future. The Baht fell later in the week after the BOT announced to cut limit on outstanding of the NRBA and NRBS to THB200 million and increase surveillance on bond holding by non-residents ... Read more
5 Jul 2019
The Baht fell slightly after having hit a 6-year high of THB30.52/USD. The Baht rose on net foreign stock and bond buying orders, while the US dollar fell on weak economic data that reinforced expectations about the Fed policy rate cut. However, the Baht pared those gains later, while the US dollar was supported by investors’ position adjustments before US Non-Farm Payrolls report. ... Read more
28 Jun 2019
The Baht strengthened against the US dollar during the week. The Baht hit a new 6-year high of THB30.62/USD early in the week amid expectations that the Fed might cut its policy rate at its meeting in July. However, the Baht fell on position adjustment around mid-week before bouncing back after the BOT’s MPC meeting decided to keep its benchmark rate unchanged at 1.75%. Meanwhile, market participants also awaited the upcoming US-China trade negotiation. ... Read more
21 Jun 2019
The Baht hit a 6-year high against the US dollar. The Baht fell briefly early in the week, as investors covered their short US dollar positions ahead of the FOMC meeting. However, the Baht rebounded later and hit the strongest level in 6 years at THB30.79/USD after the Fed meeting. Although the Fed decided to keep the fed funds rate unchanged, it hinted at rate cuts in the future amid concerns about the US-China trade tension and the economic slowdown.... Read more
14 Jun 2019
The Baht hit a 3-1/2 month high of THB31.14/USD. The Baht rose along with net foreign stock and bond buying orders earlier in the week. In addition, the US dollar tumbled on an expectation that the Fed might cut its policy rate by the end of the year, and disappointing US economic data, including weak inflation and weekly jobless claims data.... Read more
7 Jun 2019
The Baht hit the strongest level in over 3 months at THB31.28/USD. The Baht strengthened in line with net foreign stock and bond buying orders, while the US dollar fell on the Fed Chairman’s remarks that the Fed would act appropriately to sustain the US economic expansion, fuelling expectation of the US rate-cut later this year. Weaker than expected US economic data, including ADP employment data, also weighed down the US dollar sentiment.... Read more
31 May 2019
The Baht strengthened, after having fallen earlier in the week. The Baht weakened along with other regional currencies that were pressured by concerns about the trade tension between the US and China. However, the Baht rebounded later in the week on net stock and bond buying orders of foreign investors. Report on the macroeconomic and FX policies of major trading partners released by the US Treasury showed that Thailand was not added in the monitoring list as market participants were concerned before.... Read more
24 May 2019
The Baht rebounded later in the week, after having fallen to the THB32.00/USD level. The Baht fell early to mid week, along with the weaker Yuan and other regional currencies amid heightened trade tension between the US and China. However, the Baht pared losses somewhat and recovered later in the week on technical buying orders, while regional stocks and currencies also recouped their losses.... Read more
17 May 2019
The Baht weakened later in the week. The Baht fell briefly in line with weaker Yuan and other Asian currencies. The Baht later rebounded to a 2-1/2 month high of THB31.45/USD on net foreign bond buying orders, as market participants put focus on the US Treasury’s FX report. However, the Baht fell later in the week on weak Asian currencies amid cautious sentiment related to the US-China trade talks, while the US dollar gained momentum on stronger-than expected US economic data. ... Read more
10 May 2019
The Baht tested the THB31.55/USD level, an over 1-month high, in late week. The Baht rose early in the week amid heightened tension between the US and China on their trade deal. In addition, there were short-covering orders, as Thai financial markets reopened after long holidays. The Baht weakened briefly due to the BOT’s MPC meeting result, but rebounded to an over 1-month high later in the week, as the US dollar fell on weak economic reports, and cautious sentiment ahead of the final US-China trade talks.... Read more
3 May 2019
The Baht fell slightly, but still traded within a narrow range around THB32.00/USD. The Baht edged up early in the week, as the US dollar barely drew any support ahead of the FOMC meeting. The Baht weakened later in the week, as the US dollar rose after the Fed gave no signal to cut its policy rate in the near future. In addition, the Baht fell on net foreign bond selling orders. ... Read more
26 Apr 2019
The Baht hit a near 4-month low of THB32.10/USD, before paring losses. The Baht fell in line with net foreign selling orders of Thai bonds and weak regional currencies. The US dollar rose on stronger-than-expected US economic data, and also extended gains against the Euro on the back of concerns about the slower economic prospects in Germany and the Eurozone. However, the Baht pared losses somewhat and rebounded late in the week.... Read more
19 Apr 2019
The Baht fell to THB31.80/USD. The Baht weakened after the reopening of domestic financial markets following long public holidays. The Baht’s weakness was in line with net foreign stock and bond selling orders while the US dollar gained on stronger-than-expected US economic data, including a fall in February trade deficit, declines in weekly jobless claims over the past five weeks, and an increase in US retail sales.... Read more
12 Apr 2019
The Baht pared gains later in the week. The Baht rose early in the week on foreign investors’ net buying orders of Thai stocks, while the US dollar fell on a weak US Factory Orders data for February. Later, the Baht pared gains on net foreign bond selling orders, as well as weak regional currencies, after the IMF cut its global growth forecast to 3.3% this year. The Baht rebounded late in the week in line with the Yuan on the back of a stronger-than-expected Chinese export data for March.... Read more
5 Apr 2019
The Baht fell later in the week. The Baht rose early in the week in alignment with the Yuan and other regional currencies amid stronger-than-expected Chinese PMI reported for March. However, the Baht’s upside gains were still limited as market participants awaited a clearer picture of domestic political factors. In addition, the US dollar rose on optimism about the US-China trade deal and buying orders ahead of US Nonfarm Payrolls data.... Read more
29 Mar 2019
The Baht rebounded slightly, after having fallen earlier in the week. The Baht fell early to mid week in line with net foreign selling orders in the Thai stock and bond markets, while investors kept an eye on political situations after the general elections. In addition, the US Dollar rose amid concerns about the global economic slowdown. The Baht hit the weakest level of the week at THB31.95/USD before rebounded somewhat later in the week after there was a clearer picture for domestic political factors than early in the week.... Read more
22 Mar 2019
The Baht stayed in a narrow range, but was volatile after the MPC and FOMC meetings. The Baht moved in a narrow band before falling to a 2-week low of THB31.97/USD after the BOT’s MPC members unanimously voted to keep its policy rate at 1.75%, and the BOT also revised downward its 2019 GDP forecast. However, the Baht rebounded on the US dollar sell-offs after the Fed signaled that it might not raise its policy rate later this year. The Baht stayed in a narrow range again late in the week before the general elections at home.... Read more
15 Mar 2019
The Baht edged up against the US dollar. The Baht rose slightly early in the week while the US dollar fell on weaker-than-expected US CPI and PPI reports for February. The soft US inflation figures reinforced expectations that the Fed’s policy rate-hike pace would be slower this year. However, the Baht weakened later on the back of net foreign selling orders of Thai shares and cautious sentiment toward domestic factors. The Baht rebounded later in the week along with regional currencies while market participants awaited the upcoming FOMC meeting on March 19-20.... Read more
1 Mar 2019
The Baht hit a 1-month low. The Baht edged up early in the week on optimism about the US-China trade talks. The Baht, however, tumbled to a 1-month low of THB31.76/USD on the back of foreign investors’ selling orders of Thai stocks and bonds late in the week. The US dollar also gained on the rising US bond yields after US economic data, including 4Q-18 GDP report, came out better than market expectation. ... Read more
22 Feb 2019
The Baht hit the highest level in more than 5 years at THB31.07/USD, before reversing those gains later in the week. The Baht rose along with risky assets and other regional currencies, including the Yuan amid the US-China trade talks. It also gained on hefty net foreign stock buying orders in mid-week. However, the Baht reversed all gains toward the end of the week on short-covering orders for the US dollar and a weaker-than-expected Thai export data for January. ... Read more
8 Feb 2019
The Baht traded in a narrow range, before weakening later in the week. Although the Baht moved within a limited range, it had a slightly strong bias on the back of net foreign stock and bond buying orders. However, the Baht fell later in the week on the BOT’s signal to step into the market to lessen the abnormal movement. The Baht’s weakness was also in line with net foreign stock and bond selling orders. ... Read more
1 Feb 2019
The Baht hit an almost 9-month high of THB31.18/USD after the FOMC meeting. The Baht rose in line with net foreign stock buying orders and other Asian currencies. The US dollar, however, tumbled on the Fed’s dovish statement. The Fed cut a reference to the Fed’s plan for further gradual rate hikes and gave a cautious approach for the months to come. ... Read more
18 Jan 2019
The Baht hit an 8-month high before paring gains later in the week. The Baht rose in line with net foreign stock buying orders and rising risky assets. Meanwhile, the US dollar faced sell-offs on the back of weak US economic data, signals to slow the US-rate hike path from the Fed Vice Chairman, and concerns about the US partial government shutdown. However, the Baht pared gains somewhat before the weekend. ... Read more
4 Jan 2019
The Baht hit a 7-month high of THB32.00/USD. A stronger Baht was due to the US dollar’s sell-offs amid concerns about a partial government shutdown. Meanwhile, weaker-than-expected US economic data hurt the US dollar sentiment and reinforced worries about uncertain US interest rate hike cycle. The Baht pared losses later in the week, along with a weaker Yuan after the PBOC lowered RRR by 1.0% to support the Chinese economy.... Read more
28 Dec 2018
The Baht rose to test THB32.40/USD later in the week amid the US dollar’s sell-offs on the back of concerns about the US partial government shutdown, economic slowdown in the US and globally, as well as prolonged trade tension between the US and China.... Read more
14 Dec 2018
The Baht rose, but within a narrow range. The Baht rose slightly in line with the Yuan and other Asian currencies amid easing concerns about the US-China trade tension after news reported that China could undo the tariffs on American-made cars. However, the Baht’s upside gains were capped later while the US dollar rebounded after the ECB cut its economic growth forecasts for this year and next year despite the confirmation of a halt for asset-purchase program at the end of this month as planned. In addition, the US dollar gained on short-covering ahead of the FOMC meeting.... Read more
30 Nov 2018
The Baht broke the THB33.00/USD level. The Baht rose amid the US dollar’s sell-offs after the Fed Chairman said that the Fed’s benchmark rate is just below neutral level. The remarks were seen as a signal for a slower tightening cycle of the Fed rate hikes in 2019. However, the Baht’s upside gains were limited, as market participants awaited the outcome of the summit between US President Donald Trump and Chinese President Xi Jinping. ... Read more
23 Nov 2018
The Baht weakened later in the week. It briefly rose early in the week on doubts about the US rate-hike outlook next year after Fed officials expressed concerns about the weaker global economic outlook. However, the Baht reversed gains and fell later in the week on a weaker-than-expected 3Q-18 Thai GDP report. It was also weighed down by tumbling risk sentiment while market participants kept an eye on clearer situations of the BREXT and the US-China trade deal. ... Read more
16 Nov 2018
The Baht was stronger than THB33.00/USD again. It briefly fell early in the week on the US rate-hike prospect, which helped support the US dollar sentiment. However, the Baht rebounded later on as the US dollar faced sell-offs amid hopes for solutions toward the BREXIT deal and US-China trade negotiation. In addition, the Baht gained on the BOT’s MPC meeting outcome (Nov. 14), showing that there were more members voting for a 25 bp rate hike, although a majority of members voted for holding the policy rate unchanged at 1.50%. The Baht stayed in a narrow range later in the week, as market participations awaited clearer situations of the BREXT and the US-China trade deal. ... Read more
9 Nov 2018
The Baht was weaker than THB33.00/USD again. The Baht was volatile early in the week ahead of the US mid-term elections. However, the Baht rebounded later on as the US dollar fell after the midterm elections results. Democrats won the U.S. House of Representatives while Republicans held on to their Senate majority. However, the dollar rebounded late in the week on the back of the FOMC meeting results. The Fed held its benchmark rate unchanged, but signaled to continue the tightening cycle in the near future, meaning there is a likelihood of another rate hike in December. ... Read more
26 Oct 2018
The Baht weakened and later broke the THB33.00/USD level. The Baht fell on a disappointing Thai export data and hefty net foreign stock selling-orders during the week. Meanwhile, the US dollar rose amid risk aversion, triggered by concerns about the EU’s formal steps to reject Italy's budget and Chinese economic slowdown. The US dollar also gained on stronger-than-expected US pending home sales and durable goods orders reports for September. ... Read more
19 Oct 2018
The Baht strengthened, but its gains were capped later in the week. The Baht rose early- to mid-week along with net foreign bond buying orders while the US dollar fell on a weaker-than-expected US retail sales data. However, the Baht pared gains somewhat later in the week in line with falling risky assets. Meanwhile, the US dollar was boosted by the FOMC minutes for their 25-26 September meeting that reiterated the Fed’s rate-hike outlook next year. The weakening Yuan on a disappointing Chinese GDP report for 3Q-18 also weighed down regional currencies, including the Baht. ... Read more
28 Sep 2018
The Baht rose slightly late in the week, but its movement remained tight. The Baht fell early in the week in line with other regional currencies amid steepened tension related to the US-China trade deal after China canceled trade talks with the US before the latter’s new tariffs on Chinese goods were set to go into effect. In addition, the US dollar was supported by position adjustments ahead of the FOMC meeting. The Baht, however, rebounded later in the week on net foreign bond and stock buying orders. ... Read more
14 Sep 2018
The Baht hit a 2-month high last week. The Baht fell briefly early in the week on concerns about the fragile emerging markets while the US dollar extended gains on a stronger-than-expected US Non-farm Payrolls data. However, the Baht rebounded later in the week, along with net foreign buying orders in the Thai stock and bond markets. In addition, the US dollar faced sell-offs, after the US CPI and PPI inflation data came out weaker than market expectations. The ECB’s signal to end its QE program also weighed down the US dollar. ... Read more
31 Aug 2018
The Baht fell, after having hit a 2-month of THB32.50/USD. The Baht rose on net foreign bond buying orders and the US dollar’s sell-offs on the back of US-Mexico trade deal. However, the Baht weakened later in the week, as the US dollar strengthened on stronger than expected US economic reports that reinforced expectation that the Fed would raise their policy rate at the FOMC meeting in September. In addition, the falling emerging markets assets and the BOT’s signal to closely monitor the Baht movement. ... Read more
24 Aug 2018
The Baht broke the THB33.00/USD level. The Baht rose to a 2-month high of THB32.65/USD after the Yuan and other Asian currencies rose on the back of optimism on the US-China trade negotiations. The US dollar faced sell-offs after US President Trump criticized the Fed Chairman and said that he disagreed with the Fed’s rate-hike decision. The Baht pared gains later in the week, while the US dollar recovered on investors’ short-covering ahead of the annual Jackson Hole symposium and no development concerning US-China trade talks. ... Read more
17 Aug 2018
The Baht rose late in the week. The Baht fell briefly early of the week, after concerns about the Lira crisis triggered sell-offs of emerging-market assets, Asian currencies, and the Baht. However, the Baht later pared those losses and recovered on the back of the rebounding Yuan and other Asian currencies, helped by optimism about the U.S.-China trade talks. In addition, the Baht rose on net foreign bond buying orders during the week. ... Read more
10 Aug 2018
The Baht pared gains around end of week. The Baht earlier rose on net foreign stock buying orders, and the rebounding Yuan after the PBOC signaled that they would take action to stabilize the Yuan movement. The US dollar sell-offs on the back of the falling US bond yields were also the Baht’s supportive factor. The Baht pared gains and weakened later in the week, while the US dollar rose as a safe-haven currency amid the trade tension among the US and their trading partners. ... Read more
3 Aug 2018
The Baht weakened after the FOMC meeting. The Baht briefly rose on net foreign stock and bond buying orders. However, the Baht reversed those gains later in the week, along with weakening Yuan and regional currencies. Meanwhile, the dollar rose on the Fed’s statement, signaling that they would likely raise their policy rate at the meeting in September. The US dollar sentiment was also boosted by strong US ADP employment data, and weekly jobless claims report. ... Read more
13 Jul 2018
The Baht hit over 9-month low of THB33.29/USD. The Baht fell to THB33.36/USD, the weakest level in 9 months. A weaker Baht was in line with the Yuan and regional currencies amid concern about the international trade situation between the US and China. Meanwhile, the US dollar also gained on strong US economic reports, including higher CPI and PPI inflation, and lower weekly jobless claims data, that supported the Fed’s gradual rate hike cycle. ... Read more
6 Jul 2018
The Baht hit over 8-month low of THB33.29/USD. The Baht and regional currencies fell along with risky assets, and Chinese Yuan (although the PBOC signaled to monitor the Yuan movement) amid concern about the international trade situation between the US and China, as US tariffs imposed on imports from China took effective on July 6. Meanwhile, the Baht’s weakness was capped somewhat ahead of the US Nonfarm Payrolls data. ... Read more
29 Jun 2018
The Baht hit over 8-month low of THB33.22/USD. The Baht fell along with Chinese Yuan, most Asian Currencies, and other risky assets amid concerns about the international trade situation between the US and their trading partners, especially restrictions on investment and trade. The Baht was also pressured by net foreign stock and bond selling orders. ... Read more
22 Jun 2018
The Baht broke the THB33.00/USD level to hit over 7-month low. The Baht fell along with net foreign stock and bond selling orders, while the US dollar rose further on the Fed Chairman’s remarks about more interest rate hikes in the coming months. Meanwhile, concerns about the international trade situation between the US and their trading partners also triggered sell-offs of risky assets, and affected sentiment of Asian currencies. ... Read more
15 Jun 2018
The Baht hit over 5-month low of THB32.46/USD. The Baht fell on net foreign stock and bond selling orders, while the US dollar rose strongly after the FOMC meeting. The Fed gave a hawkish signal that there would be two more rate hikes later in the year, compared with one hike signaled earlier. The US dollar also rose after the ECB said that their policy rate would be kept at low levels despite the halts of their QE measures.... Read more
1 Jun 2018
The Baht weakened slightly. The Baht fell to the weaker side of THB32.00/USD in early to mid week, along with weak regional currencies and net foreign selling orders for Thai stocks, while the US dollar also gained, especially against the Euro, pressured by concern about political uncertainty in Italy. However, the Baht rebounded somewhat later in the week on net foreign bond purchases. Meanwhile, the US dollar fell on fading concerns about political situation in Italy and renewed uncertainty about trade policy about the US and their trading partners.... Read more
25 May 2018
The Baht rose to the stronger side of THB32.00/USD. The Baht briefly fell early in the week on news that the US and China put trade war on hold. However, the Baht reversed those losses and strengthened later in the week, while the US dollar fell on concerns about uncertain outcome of US-China trade talk. Meanwhile, the Baht gained on net foreign bond buying orders. ... Read more
11 May 2018
The Baht broke the THB32.00/USD to hit a 4-month low of THB32.22/USD. The Baht fell, while the US dollar extended gains on expectations of the Fed’s rate hikes, boosted by surging global oil prices and higher inflationary concerns. However, the Baht pared those losses later in the week, as the dollar faced sell-offs on a weaker-than-expected US CPI report. ... Read more
The Baht weakened further against the US dollar. The US dollar rose on US economic data, including industrial production, and Philadelphia Fed business outlook survey that came out stronger than expected, as well as the rising US bond yields. US 10-year Treasury bond yield hit its highest level since 2011. The Baht’s losses were also led by net foreign stock and bond selling orders later in the week.... Read more
4 May 2018
The Baht weakened to nearly THB31.75/USD. It appreciated early in the week, while investors sold the US Dollar somewhat to adjust their positions before the latest Fed meeting. However, the Baht pared those gains and weakened later on Thai bond sell-offs by foreign investors. The US Dollar was also supported by the Fed announcement of the US inflation that was closer to the target.... Read more
27 Apr 2018
The Baht hit a 2-month low. The Baht fell, while the US dollar rose along with the rising US bond yields. US 10-year yield surged to above 3%, the highest level in 4 years. In addition, the weak Baht was also in line with net stock and bond selling orders of foreign investors during the week. ... Read more
20 Apr 2018
The Baht fell slightly against the US Dollar, but its movement overall remained within a narrow range all week. The baht fell along with weakening regional currencies, while the US Dollar rose on higher US Treasury yields after Fed officials remarked that the US inflation rate would likely increase to the Fed’s target this year. The weaker Baht was also in line with net foreign bond selling positions during the week. ... Read more
9 Oct 2017
3 Jul 2017
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8 May 2017
27 Mar 2017