2023-09-02 02:22:14
Economic News9:11, 2023-09-02
Kasikorn Bank (KBANK) looks at the movement of the baht next week (Sept. 4-8) at the level of 34.80-35.30 baht / dollar from the market close on Friday, September 1, 2023 at the level of 35.01 baht. /dollar
for the past week The baht gradually strengthened After a short weakening at the beginning of the week, the baht depreciated at the beginning of the week in line with other Asian currencies, coupled with some pressure from foreign investors’ net sell positions in Thai stocks and bonds. However, the baht turned around to appreciate. during the rest of the week while the dollar and US bond yields declined after US economic data came out weaker than the market expected (for example, the number of job openings in July and ADP’s private employment in August), which bolsters expectations that The Fed may keep the policy rate unchanged at 5.25-5.50% at the September FOMC meeting.
at the end of the week The baht moved in a narrower range. Because despite the support from the Chinese official’s yuan care signal (The People’s Bank of China announced a reduction in the reserve ratio for foreign currency. and announced the daily renminbi reference rate is stronger than market estimates), but on the other hand There is pressure from buying back the dollar. Before reporting US non-farm payrolls as well
Important factors to monitor next week include political situation in the country. inflation rate Aug. Thailand’s direction of foreign capital and the value of the yuan While important US economic numbers include PMI and ISM indexes in the service sector in August. Factory orders in July Fed’s Beige Book and weekly jobless claims
The market is also waiting for the outcome of the Reserve Bank of Australia’s monetary policy meeting. Export figures for the month of July. of China and the service sector PMI index for August. of China, Eurozone and England as well.
By InfoQuest News Agency (02 Sept. 23)
Tags: Forex, KBANK, baht, Kasikorn Bank, exchange rate, baht
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