Kasikorn Bank The baht movement range is expected next week (March 25-29) at 36.00-36.90 baht per dollar. From the market closing level on Friday (March 22) at 36.38 baht per dollar.
At the beginning of the week, the baht weakened in line with the overall movement of other currencies in the region, while the dollar's decline received support ahead of the US Federal Reserve meeting, at which it was expected that economic estimates might be revised. And views on the direction of US interest rates
The baht continues to fall in line with the yen. After the results of the Bank of Japan (BOJ) meeting were in line with market expectations. Both in terms of raising short-term interest rates to the 0.0-0.1% range, ending yield curve control, and canceling purchases of ETFs and J-REITs, while the BOJ Governor's signals reflected that the BOJ would not immediately adjust its stance towards… Strict oversight in the near term.
The baht returned to consolidate briefly after the results of the Fed meeting. Although the economic outlook and inflation numbers in the United States increased as expected, the Federal Reserve officials’ view on the direction of interest rates through the dot chart still reflects the chances of reducing interest rates 3 times as before.
However, the baht weakened again during the rest of the week. Meanwhile, the dollar received support from signs of monetary policy easing from other central banks, such as the Swiss Central Bank. That cut interest rates above market expectations and the Bank of England indicates that monetary policy may ease in the future
In addition, the baht has the additional downside of a net short position in stocks. And Thai bonds for foreign investors and the timing of the contraction in gold prices in global markets at the end of the week as well.
Next week, important factors to watch include the direction of foreign capital. Thailand's February export figures, economic reports and financial situation
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