2024-03-23 04:48:55
Economic news 11:42 a.m. 2024-03-23
Kasikorn Bank (KBANK) expects the baht to move next week (25-29 March) at 36.00-36.90 baht/dollar from the market closing on Friday, 22 March at 36.38 baht/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 Received support before the US Federal Reserve (Fed) meeting, which was expected to There may be revisions to economic estimates and views on the direction of U.S. interest rates. In addition, the baht weakened in line with the yen. After the results of the Bank of Japan (BOJ) meeting came out in line with market expectations. (both in terms of adjusting short-term interest rates to the range of 0.0-0.1%, ending Yield Curve Control, and canceling purchases of ETFs and J-REITs) while signals from the BOJ governor reflect that the BOJ will not Adjust your attitude towards strict control immediately in the near term.
The baht returned to strengthen for a short period. After the results of the Fed meeting Although the Fed has raised its economic and inflation forecasts for the United States as expected, the views of Fed officials on the outlook for policy interest rates through the dot plot still reflect the possibility of 3 interest rate cuts as before.
However, the baht weakened again during the rest of the week. While the dollar There was support from signs of easing monetary policy from other central banks, such as the Central Bank of Switzerland, which cut interest rates above market expectations. and the Bank of England, which has signaled that there may be monetary policy easing in the future. In addition, the baht has additional negative factors from foreign investors’ net selling positions in Thai stocks and bonds. and the timing of the contraction of gold prices in the world market at the end of the week as well.
Next week, important factors to monitor include the direction of foreign capital. Export figures and February economic and salary reports Thai things
Meanwhile, important US economic figures include new home sales. Durable goods orders Total number of home sales contracts pending closing Personal income/expenses and PCE and Core PCE price index for February. Consumer confidence index for March. and GDP numbers for the 4th quarter of 2023 (final). In addition, the market is still waiting to follow industrial profit data for January-February. of China and the UK’s 4Q23 GDP figures as well.
By InfoQuest News Agency (23 March 2024)
Tags: KBANK, baht value, Kasikorn Bank, exchange rate, baht
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