2023-05-02 23:48:00
The baht this morning opened at 34.07 baht/dollar, strengthening from yesterday’s close at 34.23 baht/dollar, today’s baht range of 33.90-34.20 baht/dollar.
The dollar fell against major currencies in trading on the New York Stock Exchange yesterday. After the US revealed the number of job openings fell to the lowest level in almost two years, while investors were watching the results of the Federal Reserve meeting (Fed) today, US time. or in the early hours of Thursday in Thai time While investors weigh almost 100% expect the Fed to raise interest rates by 0.25% at this meeting.
Yesterday, the Thai bond market Foreign investors net buy 13,806 million baht and buy Thai stocks net 1,486 million baht.
Today’s gold price has a narrow swing, closing the market up 50 baht from the previous day. Fed meeting market
Asian Stocks Mixed, Fed Expected, Aussie Surprise 0.25% Rate Hike
The baht opened the market to appreciate, reaching 34
Key US economic numbers this week. The ADP private payrolls data for April and the Institute for Supply Management (ISM) service sector index for April are released today. week and trade balance in March on friday The United States will release non-farm payrolls numbers for April.
Money Markets and International Transactions Department TMB Thanachart (ttb) recommends that importers should buy foreign currencies to hedge risks, and exporters recommend selling foreign currencies above the level of 34.30 baht/dollar.
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. 33.85-34.60 baht/dollar compared to last week The baht closed at 34.11. baht/dollar after trading in the range of 34.06-34.52 baht/dollar, with the dollar depreciating against the euro and pound last week. Investors expect the US Federal Reserve (Fed) to end its policy rate hike.
However, US first-quarter GDP numbers were below expectations, but gauges of inflation remained high. The yen fell sharply after the Bank of Japan (BOJ) continued its ultra-accommodative monetary policy. The BOJ maintains its short-term interest rate target at -0.1% and the 10-year Japanese government bond yield target at around 0%. Move within the range of -0.5% to 0.5% as before. Foreign investors sold Thai stocks net 3,956 million baht, but bought bonds 5,404 million baht. In April, the baht appreciated 0.2% while regional currencies adjusted. disrupted
for an overview this week. The Global Markets Krungsri Group said that the key event is at the Fed meeting on May 2-3, where the Fed is expected to raise interest rates by 25bp to 5.00-5.25% and will be the last hike of the cycle. Amid risks to the stability of the banking sector, despite the slow decline in inflation Investors will pay attention to the Fed’s communications about the next phase of policy direction.
There is also the European Central Bank (ECB) meeting on May 4 where it is expected to raise interest rates by 25bp and continue to signal further increases for some time. Including the US April employment data, which is also in the market’s attention. Incidentally, domestic financial markets are open for only 2 days this week. The result of the central bank meeting and various important economic figures will cause the global market to be highly volatile during the Thai holidays.
for domestic factors Investors will follow Thailand’s inflation data in April, which is expected to slow down further. The current account balance in March posted a 37-month surplus of $4.8 billion. This is because the value of exports contracted less than expected. Meanwhile, private consumption indicators in March were similar to those of the previous month. But private investment indicators declined. The BOT commented that in the period ahead, the global economy and financial markets are increasingly uncertain. as well as the pass-through of entrepreneurial costs that may increase inflationary pressures.
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