Thai baht market conditions: closed 31.86, weakest in 13 months. Tomorrow has a chance to touch

A treasury manager from the Bank of Ayudhya revealed that the baht closed this evening at 31.86 baht/dollar, depreciating from the morning session at 31.75/77 baht/dollar.

The market closed today. The baht weakened to the lowest in 13 months since May 63 after intraday weakness at 31.92 baht / dollar, the weakest against other regional currencies. One comes from anxiety over the epidemic situation. covid-19 virus In a country where the death toll reached 51 today, and international concerns continue as the US Federal Reserve (Fed) may raise policy interest faster than expected.

“The baht depreciated today. There are many factors mixed together. From the story of the Fed to raise interest rates faster Still have effects until this week, including panic, the death toll from the coronavirus in the country, while the MPC, which cut GDP this year, should have a limited effect. Because people have predicted that there will be a reduction,” said a treasury manager.

Money managers view that the baht tends to depreciate tomorrow, touching the level of 32.00 baht/dollar, giving the frame at 31.75- 32.00 baht/dollar, which looks at this period. Investors will buy dollars. and selling mainly in baht

  • important factor

  • The yen was at 111.04 yen/dollar from early morning at 110.56/57 yen/dollar.
  • The euro was $1.1938/euro from $1.1906/1950/euro in the morning.
  • The SET index closed today at 1,592.08 points, down 7.15 points (-0.45%), trading value 77,735 million baht.
  • Group Trading Volume Summary Foreign net sales 214.03 million baht (SET+MAI)
  • The Monetary Policy Committee (MPC) voted unanimously to maintain the policy rate at 0.50%.
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The 3rd round of covids causes the Thai economy to recover slowly and not thoroughly. while in the future, there is still a risk from a new round of covid epidemic and see

Measures to help businesses in various forms Probably better than cutting interest rates.

  • The MPC cut the Thai economic growth in 64 to 1.8% from 3% previously expected, following the trend of foreign tourists.

and demand in countries affected by the COVID-19 outbreak in the 3rd round, while looking at the service sector and professional workers

Freedom is more fragile and may slow recovery

  • Covid-19 Situation Administration Center Rejecting proposals from medical personnel to lock down Bangkok for 7 days to control

covid virus epidemic but will use Bubble and Seal measures instead, which will control only the problem areas by clarifying that the cause

that choose not to lock down Bangkok because it may cause the movement of workers to the provinces which may increase the risk of spreading

from Bangkok to the provinces

  • Vaccine Research Center Faculty of Medicine Chulalongkorn University expects the development of the Chulacov19 mRNA vaccine will be

Completed and available for rapid deployment at the end of the first quarter of ’65, which is currently in Phase 1 human trials.

  • The private sector believes that the goal of opening the country in 120 days, if possible, will bring the tourism sector back. and expected in the

This year’s 4th quarter will have cash inflows of around 50,000 – 100 billion baht, which contributes to GDP this year to grow by 0.3%.

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  • AstraZeneca announced that the vaccine against COVID-19 that the company produces is effective in preventing the coronavirus

Wid-19 species Delta (Delta) and species Kappa (Kappa), which were first detected in India.

  • The Purchasing Managers Index (PMI) combines the primary manufacturing and services sectors of the Eurozone. rebounded to 59.2 in June.

This was the highest level in 180 months from 57.1 in May, supported by economic reopening and progress in

Vaccination against COVID-19

  • The Bank of Japan (BOJ) released the minutes of its April meeting. The Board of Directors of BOJ agreed that

The massive economic stimulus measures adopted by developed countries This may cause the Japanese economy and the global economy to recover dramatically.

quickly, which such a view This led the market to speculate that the BOJ may maintain its monetary policy at current levels for another period. and believe that relaxation

monetary policy And the BOJ’s ongoing remedial program for the impact of COVID-19 will allow the Japanese economy to recover moderately and sustainably.

  • Investors are keeping an eye on key US economic data this week, including gross domestic product (GDP) figures.

March 1/21, Purchasing Managers Index (PMI) upstream manufacturing and upstream services sectors June from Markit, home sales

New May, durable goods orders in May, personal consumption expenditures (PCE) price index in May and the number of

Claim weekly unemployment benefits, etc.

–InfoQuest by Kasamaporn Kittisampan/Sasithon Tel.02-2535000 ext.345 Email: [email protected]