10 May 2019
Financial Markets
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
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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
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
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
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