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Baht seen strengthening next week but US economic data holds key

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Baht seen strengthening next week but US economic data holds key

By THE NATION

 

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The baht will trade next week (June 8 to 12) at around Bt31.30 to Bt31.70 to the US dollar, and important factors worth monitoring are the Fed meeting and dot plots, and estimation of US economic numbers, according to Kasikornbank.

 

 

Important economic numbers, such as consumer and producer price, export and import and consumer confidence indices will be announced next week.

 

The bank also advised the market to monitor the Covid-19 situation, the US- China conflict, and Chinese economic numbers in late May.

 

The baht this week (June 1 to 5) touched its highest level in the past two months, at around Bt31.45 to the US dollar. The strengthening of the baht was line with other Asian currencies.

 

In addition, the baht was supported by foreign investors through purchase of stocks and bonds, the bank added.

 

The baht on Friday (June 5) closed at Bt31.46, strengthening from Bt31.81 the previous Friday (May 29).

 

Source: https://www.nationthailand.com/news/30389158

 

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-- © Copyright The Nation Thailand 2020-06-07
 
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Foreign investors pumped USD 198 mill. into The SET since the start of the month, what else can the Baht do but get stronger.

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TH beginning of the end,we coming in a recession, look the inflation.

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4 hours ago, rooster59 said:

The baht this week (June 1 to 5) touched its highest level in the past two months, at around Bt31.45 to the US dollar.

Oh dear. That will trigger more 'worrying' for the BOT governor.

Perhaps he should delegate someone to do the worrying for him.

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Posted (edited)
5 hours ago, vivananahuahin said:

TH beginning of the end,we coming in a recession, look the inflation.

555 Yeah right! Those of us long-timers have been hearing that since the "Asian Contagion" of '97! It's a bullet-proof economy and currency. Fueled on slave labor wages. The place has suffered more political, economic and natural disaster than any...yet the baht and the economy remain strong. Near zero labor costs, while 'Western" prices+ charged, will boost any economy. :1zgarz5:

Edited by Skeptic7
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5 hours ago, Skeptic7 said:

The place has suffered more political, economic and natural disaster than any...yet the baht and the economy remain strong.

It's not caĺled "Teflon Thailand' for nothing.

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The baht will keep getting stronger,will soon be on parity with the dollar ....1 usd=1 baht bar owners will recoup their losses in a weekend,and the girls will be wanting 10,000 baht l/t.

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3 hours ago, nausea said:

It's not caĺled "Teflon Thailand' for nothing.

The lull before the storm.

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13 hours ago, kingdong said:

The baht will keep getting stronger,will soon be on parity with the dollar ....1 usd=1 baht bar owners will recoup their losses in a weekend,and the girls will be wanting 10,000 baht l/t.

I kinda hope you’re right.  With USD/Baht parity, I can cash in my Baht, and return to USA as a millionaire.

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BoT will now spring into action...and do nothing.

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