Financial Markets and International Transactions Department TMB Thanchart (ttb) revealed that the baht value this morning (August 27, 2024) opened the market at 34.01 baht per dollar. Stable from yesterday's market closing price of 34.00 baht per dollar.
The dollar is moving without a trend, rising against the euro. But it is depreciating against the yen. Meanwhile, investors expect the Federal Reserve to cut interest rates in the three remaining meetings this year, by a total of 1.00%.
The interest rate was cut by 0.25% in September, 0.50% in November and 0.25% in December after Mr. Powell's speech on stage at the Federal Reserve's annual meeting in Jackson Hole, Wyoming, on Friday, August 23.
In addition, investors are watching the Personal Consumption Expenditures (PCE) price index, which will be released on Friday. The PCE index is a measure of inflation that the Federal Reserve cares about.
Yesterday, foreign investors sold a net 1,245 million baht in the Thai bond market and bought a net 553 million baht in the Thai stock market.
Today's currency framework and recommended strategies
US Dollar/33.80-34.10 Thai Baht
- Recommend Buy 33.80 / Sell 34.10
EUR/37.60-38.10 THB
- Recommended Buy 37.60 / Sell 38.10
Japanese Yen/Thai Baht 0.2320-0.2370
- We recommend Buy 0.2320/Sell 0.2370
GBP/THB 44.60- 45.10
AUD/THB 22.80- 23.30
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