Krungsri expects the baht to trade in the range of 34.30-34.90 this week, hoping for the Fed - stocks dimension

2023-06-12 15:05:18

Stock Dimension – Global Markets Group Bank of Ayudhya Public Company Limited There are views on the direction of the baht this week that The baht this week tends to move in a range. 34.30-34.90 baht/dollar compared to last week The baht closed at 34.60 baht/dollar after trading in the range of 34.55-34.92 baht/dollar, with the dollar depreciating against all major currencies. As the Reserve Bank of Australia and the Bank of Canada resumed raising their policy rates, market participants expect them to tighten further amid concerns over prolonged high inflation. The dollar faced pressure after the US reported weekly jobless claims rose to the highest level in a year and a half, reflecting the dollar’s sensitivity to US economic data released lately. Net 844 million baht, but selling bonds 2,699 million baht

for an overview this week. The Global Markets Group of Krungsri stated that the market will follow the May US CPI. The results of the Federal Reserve meeting (Fed) on June 13-14, in which investors are expected to keep interest rates at 5.00-5.25%, while the focus will be on interest estimates by Fed officials (Dot Plot) Krungsri expects the midpoint expectation for the policy rate to be similar to what the Fed had given in March at 5.1% for year-end and 4.3% for next year. However, the Fed may leave room for adjustment. raise interest rates at the next meeting on the condition that economic activity remains strong and inflation is high. The European Central Bank (ECB) is likely to raise interest rates by 25bp at its June 15 meeting, while the Bank of Japan (BOJ) has yet to signal the need to adjust its yield curve curb measures. Yield Curve Control) is likely to hold policy on June 16. We also expect the dollar to fall if the Fed keeps interest rates steady. But selling pressure will be limited if the ECB takes a more cautious stance.

for domestic factors Thailand’s headline consumer price index in May rose 0.53% from the same period last year. This was the lowest rate in 21 months, while the core consumer price index excluding fresh food and energy rose 1.55%. The Commerce Ministry expects inflation to continue to slow down in June. The heart that the BOT stated that it wanted to raise the policy interest rate back to normal levels. (Normalization) continues. The policy makers argue that they want to balance the policy space going forward.

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