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Financial Markets
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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
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
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
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
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
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
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
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
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
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
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
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
8 Jun 2018
The Baht fell later in the week. The Baht edged up early- to mid-week in line with strong regional currencies, net foreign bond buying orders, and the US dollar sell-offs, especially against the Euro that was supported by expectation for the ECB’s signals to terminate their QE program by the end of this year. The Baht, however, reversed those gains and later fell in late week on the back of the US dollar short-covering ahead of the G-7 schedule and the FOMC meeting on June 12-13.... 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
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
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