Kasikorn Research Center Weekly summary of money market conditions, capital markets The baht hit its lowest level in 13 months at 31.98 baht per dollar. before recovering partially at the end of the week The baht gradually depreciated. while the dollar It was periodically boosted by statements by Fed officials that reflected the possibility that the US monetary policy tightening signal. may come sooner than expected
In addition, the baht has further negative factors from concerns over the country’s ability to curb the spread of COVID-19 and the MPC’s view that it is more cautious in its assessment of the Thai economic outlook this year and this year. page
On Friday (June 25), the baht stood at 31.80, compared with 31.45 baht per dollar. on the previous Friday (June 18)
for this week (28 Jun.-2 Jul.) Kasikorn Bank sees the movement of the baht at 31.50-32.00 baht per dollar. Meanwhile, the Kasikorn Research Center assesses key factors that need to be monitored, including the COVID-19 situation in the country and the May Salary Economy Report. Thai stuff
While important US economic numbers include numbers of non-farm payrolls. unemployment rate ADP Private Employment Data, Manufacturing PMI/ISM Index and Consumer Confidence Index for June Sales contracts pending sales close in May April house price index and the number of weekly unemployment benefits claims In addition, the market is waiting to follow the manufacturing/service sector PMI in June. of China and the manufacturing PMI index in June. of the Eurozone and England as well
Summary of the movement of the Thai stock market
Thai stocks continued their decline from last week, with the SET index closing at 1,582.67, down 1.88% from the previous week. The average daily trading value was at 79,969.58 million baht, down 13.80% from the previous week, while the mai index fell 1.37% to close at 498.57 points.
Thai stocks have fallen all week. According to the sales force of institutional investors and foreign investors Among the pressure factors, such as concerns about the Fed’s earlier-than-expected rate hike signal. The situation of the Covid-19 outbreak in the country that is still protracted and tends to be more severe. Reduction of forecasts for Thai economic growth by the MPC as well as the possibility of lockdown in some areas to contain the Covid-19 situation. Such factors have spurred widespread sell-offs across all industry sectors this week.
For this week (June 28 – July 2), Kasikorn Securities Company Limited sees the Thai stock index as support at 1,570 and 1,550 points, while resistance is at 1,600 and 1,615 points, respectively. Assessing important factors that need to be monitored include the situation of COVID-19, as well as progress in the distribution of the COVID-19 vaccine in the country and abroad. including domestic political issues
The important US economic data is the manufacturing PMI index, the number of non-farm payrolls. and the unemployment rate in June as well as import and export data in May While other important foreign factors are the manufacturing PMI index in June. Japan and the Eurozone, China’s June PMI and June consumer price index. (introductory) of the Eurozone