KBANK expects the baht to fluctuate next week in the range of 36.20-37.20 baht/$, while monitoring the outcome of the meeting. Economic figures from the US Monetary Policy Committee
Kasikorn Bank KBANK expects the baht to move next week (April 8-12) at 36.20-37.20 baht/$ from the market close on Friday (April 5) at 36.65 baht/$ this week. Madi, the baht recorded its lowest level in about six months at 36.84 baht/dollar before partially recovering at the end of the week.
The baht declined at the beginning of the middle of the week, in line with the trend of most currencies in the region. Net selling pressure for Thai bonds from foreign investors Meanwhile, the market is focusing on the results of Thailand's Monetary Policy Committee meeting on April 10.
The dollar strengthened in line with US bond yields. This was supported by the March ISM Manufacturing Index in the US which rose more than market expectations. Which stimulates expectations of this, and it is unlikely that the US Federal Reserve will send a signal that it is preparing to reduce interest rates in the near term.
However, the baht partially recovered after gold prices rose in the global market. Meanwhile, the dollar lost some of its positive range at the end of the week. Yet US economic numbers (such as the ISM service sector index in March and the number of people filing for unemployment benefits) came in below market expectations. There may be strong selling pressure on the dollar. To adjust the position before the announcement of non-farm employment figures in the United States.
Important factors to watch next week include the results of the Monetary Policy Committee meeting, signs of the Thai interest rate trend (April 10), and the direction of foreign capital. And statements from Federal Reserve officials. Meanwhile, important US economic figures include consumer inflation expectations. Consumer Price Index Producer Price Index for March Minutes of the Federal Reserve's March 19-20 meeting, including weekly unemployment claims. And the (preliminary) consumer confidence index for April
In addition, the market is still waiting to follow the results of the European Central Bank meeting and March economic numbers from China, such as the Consumer Price Index. Producer price index and the amount of loans denominated in yuan
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