Kasikorn Bank is eyeing a baht range next week at 36.50-37.00 baht, while monitoring the yen – important US indicators.

Kasikorn Bank Public Company Limited or K Bank Baht movement forecast for next week (May 13-17, 2024) is at 36.50-37.00 baht per dollar. Meanwhile, Kasikorn Research Center is evaluating important factors to follow, including the situation of the yen and gold prices on the global market. Direction of Foreign Capital, Statements of Federal Reserve Bank Officials

There are also important US economic figures including consumer inflation expectations, PPI, CPI and retail sales. There are also home construction starts, industrial production in April 2024, and manufacturing surveys conducted by the Federal Reserve Banks of New York and Philadelphia in May 2024. Including figures on the number of people filing for weekly unemployment benefits.

In addition, the market may wait for the follow-up GDP numbers for the first quarter of 2024 in Japan and the Eurozone. With inflation in April 2024 from the Eurozone and China economic figures for April 2024, such as retail sales and industrial production as well.

Last week, the baht rose against the dollar. Which weakened after the decline in US bond yields, and the baht weakened at the beginning of the middle of the week after the general picture of regional currencies, led by the yuan and the yen. While the dollar is supported by the statements of Federal Reserve officials, which reflect the trend of maintaining interest rates in the United States. At a high level for a long time, however, the lackluster gradually recovered and strengthened at the end of the week.

Furthermore, the number of weekly unemployment claims rose more than the market expected, putting pressure on the dollar. To weaken along with the downward adjustment of US bond yields. In addition, the baht is also supported by the increase in the price of gold in the global market.

As for Friday, May 10, 2024, the baht closed the local market at 36.70 baht per dollar. Compared to the level of 36.79 baht per dollar. On the previous Friday (May 3, 2024)

As for the portfolio status of foreign investors in the period from May 7 to 10, 2024, foreign investors net sold Thai stocks for 1,597 million baht but received net inflows into the Thai bond market for 437 million baht (net purchases of Thai bonds 2,567 million baht). Baht, discount on expired debt instruments 2,130 million baht)