Tracking Thai economic numbers, KBANK indicates that next week's “baht” range is 35.85-36.50 baht.

Kasikorn Bank Public Company Limited Or KBANK Next week (29 July – 2 August 2024) ranges from 35.85-36.50 baht/dollar to 36.05 baht/dollar in the domestic market ending on 26 July.

At the beginning of the week, following the increase in gold prices in the global market, the baht strengthened and continued its appreciation direction later in the week. This is due to additional support from foreign investors' net buying positions in Thai bonds. And the appreciation of the yen, which has benefited from the forecasts that can be seen Bank of Japan (BOJ) Tighten monetary policy at July 30-31 meeting

Meanwhile, dollar sentiment throughout the week was pressured by forecasts United States Federal Reserve (Fed) Monetary policy is likely to be kept unchanged at the July 30-31 meeting, but it is likely to cut the policy interest rate at the next FOMC meeting in September.

Regarding the investment portfolio position of foreign investors between 22-26 July 2024, foreign investors netted 20,442 million baht and 85.5 million baht of bonds and Thai stocks respectively.

Next week, key factors to follow are FOMC meeting results (July 30-31), BOJ (July 30-31) andBank of England (BoE) (1 Aug.) Direction of Foreign Capital in June Economic and Wages Report Bank of Thailand (BoT) and issues related to the US presidential election

Important US economic statistics include employment and labor turnover rates. Total number of sales contracts outstanding in June. Consumer Confidence Index Private Sector Employment Data, ISM Index and Manufacturing PMI, Non-Farm Employment Statistics. and the unemployment rate in July

Additionally, the market is still waiting to follow the Eurozone's 2024 GDP figures for 2Q24 and the PMI index for the manufacturing and services sectors in July. of China

Leave a Reply

Your email address will not be published. Required fields are marked *