Kasikorn Bank (KBANK) expects baht movement next week (May 20-24) at 35.85-36.50 baht per dollar. Meanwhile, Kasikorn Research Center is assessing important factors that need to be monitored, including Thailand's GDP numbers for the first quarter of 2024 (May 20), and the trend of foreign capital. The status of gold prices on the global market and statements by Federal Reserve officials
Meanwhile, important US economic figures include used home sales. New Home Sales in April Preliminary Purchasing Managers' Index (PMI) for May Number of people filing for weekly unemployment benefits and minutes from the Fed's April 30-May 1 meeting.
In addition, the market may wait to follow the announcement of the key interest rate on Chinese loans and the results of the South Korean central bank meeting. April England inflation rate and May preliminary PMI. Japan, the Eurozone and England
Last week, the baht recorded its strongest level in about two months, at 36.05 baht to the dollar. After US CPI inflation data came in weak, the baht depreciated for a short period. At the beginning of the week, it weakened completely in some periods and then turned to strength in the subsequent period, in line with the trend of other currencies in Asia. Gold prices rose in global markets. Meanwhile, the dollar returned to face selling pressure after the decline in US bond yields. After the US Consumer Price Index and retail sales numbers in April were weaker than expected. In addition, the Fed Chairman has sent a signal that the Fed is unlikely to raise interest rates again based on US inflation data. The Fed's stance has increased market weight on the possibility that the Fed will cut interest rates for the first time at its meeting in September. This again
As for the faded, the faded has been strengthened. Meanwhile, Thai stocks closed on a positive note for the fourth straight week, rising to 36.05 baht per dollar. During the previous week, it will weaken somewhat again at the end of the week after the market situation was adjusted to wait for the follow-up GDP numbers for the first quarter of 2024 in Thailand on May 20.
On Friday, May 17, 2024, the baht closed the local market at 36.28 baht per dollar. Compared to the level of 36.72 baht per dollar. On the previous Friday (May 10, 2024) for the portfolio status of foreign investors from May 13 to 17, 2024, foreign investors bought net Thai stocks worth 5,212 million baht and had net inflows into the Thai bond market status of 3,706 million baht (net Thai bond purchases amounting to 3,935 million baht, deducting expired debt instruments amounting to 229 million baht)
By InfoQuest News Agency (May 18, 2024)
Tags: kbank, baht value, kasikorn bank, exchange rate, baht
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