Krungsri expects the baht to trade within the range of 30.00-30.30 per dollar.
On January 12, 2021 at 7:24 a.m.
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Krungsri expects US bonds It is the leading factor in the market movement of the Thai baht exchange rate.
Global Markets Group Bank of Ayudhya Public Company Limited has a view on the direction of the baht this week that It is likely to move within the range of 30.00-30.30 per dollar compared to the previous week. The baht closed down at 30.07 per dollar after trading in the 29.85-30.15 period, while the global dollar recovered in line with US bond yields. The United States issued additional stimulus measures. The Wall Street stock market’s key index continues to hit record highs, with foreign investors net buying on the Thai stock market worth 5.3 billion baht and selling 2.5 billion baht in bonds.
Global Markets considers the market to be interested in announcing the fiscal spending plan of President Joe Biden and the comments of the Federal Reserve Chair (Fed) at a webinar hosted by the university Princeton, Jan. 14, after the Fed’s latest policy meeting minutes said it was unanimous to maintain its bond-buying program until significant further progress was made to its target. The Fed did not show strong support for its more long-term bond purchases. But may be changed in the future if necessary Krungsri views that this week’s momentum of US Treasury yields will be a key driver of market dynamics, gold prices and capital flows.
For domestic factors The latest meeting of the Monetary Policy Committee (MPC) on December 23, 2020 indicates that the COVID-19 outbreak has occurred. The new wave in the country is highly uncertain. Which if the situation is severe will affect the economic forecast greatly While fiscal measures play an important role in continually supporting the economy. The public debt level has increased. The MPC considers that it does not significantly increase the risk as it revives the economy. Krungsri expects The MPC will maintain policy interest at 0.50% this year, but a dreary start to the year has raised concerns about the overall economic recovery.
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