KBANK Eyes Baht Range Next Week at 35.40-36.00 Baht, Watching Thai Inflation – Fed Statement

Kasikorn Bank Public Company Limited or K Bank Assess the range of movement of the baht value next week (6-10 November 2023) at 35.40-36.00 baht/$ from the market close on Friday, 3 November 2023 at 35.71 baht/$ after reaching the strongest level in a month and a half at 35.70 baht/$.

While important factors to watch include Thailand’s October 2023 inflation numbers, and signs of foreign capital. Asian currency trends The situation in Israel including a speech by the President. And senior officials in Federal Reserve of the United States (Federal Reserve)

Important US economic numbers include September 2023 wholesale inventories, November 2023 consumer confidence index (preliminary), and the number of people filing for weekly unemployment benefits. In addition, the market is still awaiting the results of the meeting. Reserve Bank of Australia Together with the October 2023 services sector PMI for Japan and the Eurozone. Including October 2023 economic figures from China such as export figures. Consumer Price Index and Producer Price Index.

For the past week, the baht has risen to the most in about a month and a half, with the baht fluctuating in the run-up to the meeting. Nourish it The initially dull was enhanced. Like other currencies in the region, it weakened again in the middle of the week after a decline in gold prices on the global market that could not stay above the level of $2,000 per ounce, while the dollar partially recovered after the trend in US bond yields. And the purchasing power of the dollar before the meeting Nourish it

However, the value of the baht strengthened after the meeting. Nourish it Which kept interest rates unchanged at 5.25-5.50% and took a less controlling stance than the market was worried about. This explains why there is a chance to see additional increases in interest rates. Nourish it In the future there is a downward trend. In addition, the dollar has additional negative factors from the number of weekly unemployment claims in the United States. This turned out worse than expected as well.

As for the state of the investment portfolio of foreign investors in the period from October 30 to November 3, 2023, foreign investors net sold Thai stocks at the level of 3,171 million baht, and they had a state of net outflows from the Thai bond market of 469 million baht (net) bond sales of 464 million Baht and expired debt instruments 5 million baht)