2023-09-16 03:10:00
Kasikorn Bank Public Company Limited or KBANK Looking at the range of the baht’s value movement next week (18-22 Sep.) at the level of 35.30-36.10 baht per dollar. Meanwhile, the Kasikorn Research Center assesses important factors that need to be monitored, including: Meeting results and Dot Plot of the Fed, direction of foreign capital and the value of the Yuan
While important US economic figures include the housing market index. September Philadelphia Fed Business Trends Survey Numbers for starting a house Sales of second-hand homes in August and the number of people applying for weekly unemployment benefits
In addition, the market is still waiting for the results of the meeting of the Bank of Japan (BOJ) and the Bank of England (BoE), the announcement of the LPR interest rate by the People’s Bank of China, the inflation rate in August. of the Eurozone, England and Japan and preliminary PMI index for September. of the United States and the Eurozone
By KBANK stated that in the past week The baht hit its weakest level in more than 9 months at 35.84 baht per dollar. The baht strengthened for a short period of time. The yen rose earlier this week, supported by the Bank of Japan governor’s statement that the BOJ may be able to end its negative interest rate policy if it achieves its sustainable inflation target.
However, the baht weakened later in the period along with most currencies in Asia. Led by the Yuan amid concerns over the real estate sector and the Chinese economy as a whole. Although the Chinese authorities are trying to send a signal that Do not want the Yuan to depreciate quickly through gradually setting the daily Yuan reference rate in the direction of continued appreciation.
In addition, the baht has additional negative factors from the direction of foreign investors’ capital. While the dollar There is some support from US economic numbers. which makes the market evaluate that Even though the Fed will maintain the policy interest rate at the range of 5.25-5.50% in the FOMC meeting on September 19-20, we still do not rule out the possibility that we may see the Fed raise interest rates one more time in the next meeting. Next this year
On Friday, September 15, 2023, the baht closed at 35.78 baht per dollar compared to 35.52 baht per dollar. On the previous Friday (8 Sept.)
As for the investment portfolio status of foreign investors between 11-15 September 2023, foreign investors net sold Thai stocks for 5,572 million baht and had a status of Net Outflows from the Thai bond market for 6,919 million baht (net selling 2,079 million baht of bonds and 4,840 million baht of expired debt instruments)
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