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Baht Strengthens Against Weakening US Dollar Following Announcement of GDP Numbers
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Baht Strengthens Against Weakening US Dollar Following Announcement of GDP Numbers

by Chief editor of world-today-news.com
written by Chief editor of world-today-news.com

A money manager from the Bank of Ayudhya revealed that the baht opened this morning at 34.72 baht/dollar after the evening market closed. Yesterday at the level of 34.86/88 baht/dollar.

The baht strengthens against the market following the weakening US dollar After last night the United States Announcement of GDP numbers for the 3rd quarter, adjusted down from the previous announcement. As a result, the dollar weakened against most currencies.

money manager The baht’s movement range is estimated today at 34.60 – 34.90 baht/dollar, which must be followed tonight. Personal Consumption Expenditure (PCE) Price Index, November

The latest SPOT is at the level of 34.68750 baht/dollar.

  • Important factors
  • The yen was at 142.34 yen/dollar from 143.10 yen/dollar yesterday evening.
  • The euro was at 1.0999 yen/dollar from 1.0950 dollars/euro yesterday evening.
  • Baht/dollar exchange rate The BoT’s interbank weighted average is at 34.943 baht/dollar.
  • Treasury” explains that R&I maintains Thailand’s credit rating at A-, keeping an eye on government policy after the population birth rate decreases and aging increases.

Hopefully it will be a long-term budget burden.

  • TAT joins hands with the private sector to organize “Amazing Thailand Countdown 2024” across the country to welcome New Year’s Day 2024 with a big event.

Under the Thailand Winter Festivals project, increase momentum to stimulate tourism at the end of 2023, responding to soft power policies and pushing the image

Bangkok style It is a world-class landmark and countdown point.

  • The US Department of Commerce released its third estimate of GDP for the third quarter of 2023, stating that US GDP

expanded 4.9%, which was lower than analysts’ estimates of 5.1%, while the first and second estimates were at 4.9%.

and 5.2% respectively

  • The US dollar weakened against major currencies in trading on the New York Forex Exchange on Thursday (Dec. 21).

c.) After the United States revealed figures for gross domestic product (GDP) that expanded lower than expected in the 3rd quarter of 2023, which may result in the bank

The Federal Reserve (Fed) has stopped raising interest rates. and begin reducing interest rates next year. Meanwhile, investors keep an eye on the disclosure of the usage price index.

Pay for Personal Consumption (PCE), which is the inflation data that the Federal Reserve (Fed) focuses on

  • New York gold futures closed positive on Thursday (Dec. 21), supported by the weakening of the dollar and the outlook.

It is seen that the US economy expanded lower than expected in the 3rd quarter of 2023, causing the US Federal Reserve (Fed) to stop raising interest rates and

Start cutting interest rates next year.

  • Investors will be keeping an eye on today’s release of the US Personal Consumption Expenditures (PCE) Price Index. by analysts expected

The Headline PCE index, which includes food and energy categories, is expected to increase 2.8% in November year-on-year.

from 3.0% in October. As for the Core PCE Index (Core PCE), which does not include the food and energy categories. Expected to increase 3.4%

In November, year-on-year, from 3.5% in October.

2023-12-22 04:34:18
#Baht #market #conditions #Opens #strengthening #weak #dollar #GDP #eye #PCE #numbers

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A new decline in the dollar globally due to interest rate cut bets
Business

A new decline in the dollar globally due to interest rate cut bets

by Chief editor of world-today-news.com
written by Chief editor of world-today-news.com

Today, Wednesday, November 29, the dollar fell broadly, recording its lowest level in more than three months against its major counterparts, while the New Zealand dollar rose after the central bank indicated the possibility of raising interest rates further in the future.

In the latest trading, the New Zealand dollar rose 0.78 percent to $0.6184, after rising more than 1 percent earlier in the session to the highest level in four months at $0.6207.
This came after the Reserve Bank of New Zealand warned today that further policy tightening may be needed if price pressures persist.

The Australian dollar fell 0.11 percent to $0.6642, trimming some of its gains after rising to a four-month high of $0.66765 earlier in the session.

Data released on Wednesday showed that inflation in Australia fell more than expected in October as commodity prices fell, while core inflation also declined.

Currency market
In the broader currency market, the US dollar fell to its lowest level in more than three months against a basket of currencies to 102.46, with increasing bets that the Federal Reserve (central bank) may begin lowering interest rates early next year.

The dollar fell more than 0.5 percent to 146.675 yen, the lowest level in more than two months. It was recorded in the latest transactions at 147.06 yen.

The euro rose again to above $1.10, recording the highest level in more than three months at $1.1017. It was last traded at $1.0998.

The pound sterling also rose to its highest level in three months at $1.2733 and was traded in the latest transactions at $1.27155, and the dollar index stabilized at the latest reading at 102.63.

2023-11-29 14:02:55
#decline #dollar #globally #due #interest #rate #cut #bets

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Business

Baht Appreciates Slightly as Dollar Weakens: Impact of Israel-Hamas Conflict and US Bond Yields on World Currency Markets

by Chief editor of world-today-news.com
written by Chief editor of world-today-news.com

A money manager from the Bank of Ayudhya revealed that the baht opened the market this morning at 36.45 baht/dollar, slightly appreciating from yesterday evening when the market closed at 36.47 baht/dollar.

This morning, the baht strengthened slightly from yesterday’s market close. Because last night the US dollar fell after the Chairman of the US Federal Reserve (Fed) stated that US bond yields have increased in the past. The Fed may not need to raise interest rates. Therefore resulting in this morning The dollar is depreciating against most currencies.

The factor that must be followed during this period is the US bond yield. and the war situation in Israel

Money managers expect that today the baht will move in the range of 36.35 – 36.60 baht/dollar.

The latest SPOT is at the level of 36.44000 baht/dollar.

Important factors: The yen is at 149.92 yen/dollar from yesterday evening at 149.86 yen/dollar. The euro is at 1.0567 dollar/euro from yesterday evening at 1.0538 dollar/euro. Baht/dollar exchange rate. The BoT’s weighted interbank exchange rate is at 36.421 baht/Deputy Finance Minister dollar. Ordered the Fiscal Policy Office (FPO) to assess the impact from the Israel-Hamas war situation.

which affects the price of oil in the world market the world economic situation as well Therefore, we must watch closely to see if it expands. And is it prolonged or not?

In order to present the impact assessment report to the Prime Minister and the Finance Minister, there are 3 concerns: 1. The situation.

Will the conflict between Israel and Hamas last? 2. Will it spread to become a regional issue or not? 3.Stability of world energy prices

It cannot be denied that all of them will definitely have an impact on Thailand to some degree.

3 big banks’ 3Q23 profits grow more than 20% due to interest income soaring and reserves decreasing. “BBL” reaches 11.3 billion.

TB” 4.73 billion, Krungthai 10.2 billion

President of the Gold Traders Association It is expected that the Israeli war will push the price of gold to new highs continuously. In the next 2 weeks, it has already increased by 1,000 baht per baht, the Deputy Finance Minister said. Clarifies the conditions for giving away 10,000 baht of digital money without crystallization, including the source of the money. Moreover, it takes time to develop the app.

Top apps and test system security It is likely that the distribution will be postponed from 1 February 2024, but confirmed that it is still in the first quarter of 2024, ready.

Explain to the Prime Minister the reason for the delay.

The US Department of Labor revealed the number of first-time applicants for unemployment benefits fell by 13,000 to 198,000.

last week This was the lowest level in nine months and below analysts’ expectations of 210,000.

The president of the Federal Reserve (Fed) spoke at a meeting at the Economic Club of New York (Economic Club of New York).

York) yesterday night that The strong economic environment and tight labor market in the United States will be supporting factors for the Fed to raise rates.

interest rates again, along with saying that US inflation is still too high. And the Fed will remain committed to its commitment to keep inflation under control.

The Fed’s goal is a sustainable 2% level.

The U.S. dollar fell against major currencies in trading on the New York Forex Exchange on Thursday (Oct. 19).

c.) After investors absorbed the statement from Mr. Jerome Powell, Chairman of the Federal Reserve (Fed), which stated that the Fed will use caution.

Be careful in implementing monetary policy in the future.

New York gold futures closed above the $1,980 level on Thursday (Oct. 19), supported by the depreciation.

of the dollar and as investors continue to purchase gold as a safe-haven asset. amidst the tense situation in the Middle East

Investors continue to keep an eye on the tense situation in the Middle East. Most recently, the US State Department issued a statement informing

Reminding Americans around the world to use caution. As the fighting between Israel and Hamas enters its 13th day, more and more people are affected.

Many injuries and deaths

2023-10-20 05:15:55
#Baht #market #conditions #Opened #appreciating #slightly #weakening #dollar

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Central Bank of Egypt Directs Banks to Stop Using “Direct Debit Cards” for Customers Abroad
Business

Central Bank of Egypt Directs Banks to Stop Using “Direct Debit Cards” for Customers Abroad

by Chief editor of world-today-news.com
written by Chief editor of world-today-news.com

The Central Bank of Egypt directed banks operating in the country to stop using “direct debit cards” for customers abroad, and to limit their use inside Egypt only, without specifying the time period for implementing this directive, according to 4 heads of banks operating in Egypt who spoke to Al-Sharq.

The verbal instructions to banks operating in Egypt come at a time when the country is suffering from a clear scarcity of hard currency, despite Egypt devaluing the pound three times since the beginning of 2022 and losing nearly half of its value against the dollar.

One of the heads of private banks who spoke to Al-Sharq attributed the central bank’s decision to “the scarcity of foreign currency that the banks are suffering from, and the observed misuse of debit cards by customers outside the country.”

Georgieva: Egypt will deplete its reserves unless it devalues ​​the pound again

Kristalina Georgieva, Director of the International Monetary Fund, warned last Thursday that Egypt would deplete its foreign currency reserves unless it devalued the pound again, despite her praise of the steps it had taken to correct the crisis economy.

Georgieva said in an interview with Bloomberg that the country is postponing the inevitable by refraining from devaluing the pound again, explaining that the long wait makes things worse than they are.

Egypt’s net foreign reserve – whose $470 billion economy is a vital regional hub for energy and trade routes – fell last year to its lowest level since 2017, before stabilizing in recent months at $35 billion in September, meaning it is still declining. More than a fifth of its 2020 high.

However, maintaining the stability of the pound comes at a cost, as this has led to the drain of foreign exchange from the economy by withdrawing the net foreign assets of commercial banks, which shrank in August by more than 5% to $13.1 billion, according to calculations by the research department at HC. ” In Cairo.

Text messages

Banks operating in Egypt have begun sending text messages to their customers to inform them of the new decision to limit the use of debit cards inside Egypt only. Among those banks are the Commercial International Bank of Egypt, Banque Misr, the Arab Bank, the Arab African International Bank, and the Housing and Development Bank. It is expected that the rest of the banks will continue to inform their customers of the decision during today and the next few days.

The number of banks operating in Egypt is 38, including 9 government banks, and the National Bank of Egypt, Banque Misr, and Banque du Caire are among the largest.

Hani Genena, chief economist and strategic analyst at Cairo Capital, attributed to Al-Sharq that the Central Bank’s resort to stopping the use of direct debit cards abroad was due to “a state of panic in the markets during the past two days due to geopolitical tensions in the region… Certainly the Central Bank noticed a jump.” In the draws, so the decision was to stop.”

Moody’s lowers Egypt’s rating as foreign currencies continue to become scarce

The parallel currency market in Egypt was affected by international banks’ downgrades of Egypt’s rating, and the director of the IMF urged Egypt to liberalize its currency. The exchange rate of the US dollar rose to 41 pounds from 39.5-40 pounds at the beginning of last week, according to market traders who spoke to Al-Sharq.

One of the heads of private banks who spoke to Al-Sharq said that “the Central Bank of Egypt has not set a timetable for stopping the use of debit cards abroad,” adding that “the matter is more related to the banks’ foreign liquidity position… and the limits for withdrawing credit cards abroad will be reduced.” also”.

2023-10-09 11:15:00
#Central #Bank #Egypt #directs #banks #stop #debit #cards #East #Economy #Bloomberg

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Business

Gold Prices Decline as US Debt Ceiling Agreement Approaches, Federal Reserve Expected to Raise Interest Rates

by Chief editor of world-today-news.com
written by Chief editor of world-today-news.com

In the wake of the approaching signing of an agreement to raise the US debt ceiling, gold prices are heading down, with expectations of the Federal Reserve raising interest rates, in parallel with the stability of the dollar index.

  • Gold prices are declining and the US dollar index is stable

Today, Wednesday, gold prices are heading to end the month of May on a decline, as progress in steps to conclude an agreement to raise the US debt ceiling, and expectations that the Federal Reserve will raise interest rates, supported the dollar’s ​​location, and reduced the attractiveness of the precious metal as a safe haven.

The legislation agreed upon by the US President, Joe Biden, and Speaker of the House of Representatives, Kevin McCarthy, to raise the debt ceiling of $ 31.4 trillion, passed an important obstacle, as it was approved by the Rules Committee in the House of Representatives, and sent to the full house for its discussion and expected vote on it.

Spot gold prices stabilized at $1959.64 an ounce by 04:56 GMT, and gold has fallen 1.5% so far this month. US gold futures will not witness a significant change to settle at $1959.30.

Read also: The US House of Representatives passes legislation that raises the debt ceiling and cuts spending

At the same time, the dollar index stabilized, eliminating the support that gold prices received from the decline in the US Treasury yield for 10 years.

As for other precious metals, silver fell in spot transactions by 0.1% to $23.18 an ounce, and platinum also fell 0.1% to $1012.62, while palladium increased 1% to $1414.27. All of these metals are heading for a monthly decline.

Also read: What are the broad lines of the Biden and McCarthy agreement regarding raising the US debt ceiling?

2023-05-31 07:11:36
#Gold #prices #falling #progress #debt #ceiling #agreement #talks

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Business

Thai Baht Depreciates Due to Weakening Yuan and Chinese Economic Figures: Money Manager from Bank of Ayudhya

by Chief editor of world-today-news.com
written by Chief editor of world-today-news.com

A money manager from Bank of Ayudhya revealed that the baht opened this morning’s market at 34.10 baht / dollar, depreciating from yesterday’s close at 33.72 baht / dollar.

Recently, the baht weakened to 34.16 baht / dollar after the US dollar appreciated. from strong retail sales. In addition, the baht depreciated in line with the yuan. The depreciation was due to several Chinese economic figures that did not come out very well, especially private investment figures. This caused regional currencies to depreciate in the same direction as the yuan.

“The yuan is the weakest since the end of 2022. China’s economic data is not good. The yuan depreciated. Many currencies in the region also weakened accordingly. It may be another factor that causes today’s baht to weaken further, “the money manager stated.

Today, the political situation in the country still needs to be monitored. Especially the issue of polarizing government establishment, including foreign flows, while domestic factors must monitor the plan to increase the US debt ceiling.

Money managers expect the baht to move today within a range of 34.00 – 34.25 baht/dollar.

THAI BAHT FIX 3M (May 16) was at 1.82079%, while THAI BAHT FIX 6M was at 1.97297%.

The latest SPOT is at 34.16750 baht / dollar.

  • important factor

  • The yen was at 136.43 yen/dollar from 136.01 yen/dollar yesterday evening.
  • The euro was at $1.0868/euro from $1.0877/euro yesterday evening.
  • Thai baht/dollar exchange rate The BOT’s interbank weighted average was at 33.896 baht/dollar.
  • Go far, make an appointment with 5 parties to discuss the form of government today ‘Settha-Sita-Sathit’ led to wake up MPs from all poles voted for ‘Pitha’ as prime minister, moving far

lobbied for the Senate ‘Seri senators’ stand in the way ‘Big Tu’ accepted The sound is too small to go on

  • FTI prepares to prepare a white paper submit new government pointing to a leap in minimum wage drag the competition Take the risk of increasing the price of the product

The cost of living is rising and it affects direct investment from abroad. It is recommended to adhere to wages according to labor skills. Before going up, it should go through a decision from the tripartite.

Ready to install the government, insisting that it has to be fast, fearing that it will affect the delayed budget for the year 2017-2015, worsening the economy Supporting the liberalization of the electricity industry, continuing with BCG-

EEC

  • Finance Minister said that the economic signal is now beginning to recover continuously due to many factors. both the trend of entering the country

of foreign tourists causing the airport to be full of tourists. The Treasury expects that the number of tourists this year will reach 29 million.

The National Economic and Social Development Board (NESDB) estimates that 28 million people hope to generate income of 1.27 trillion baht from

It is a positive factor in generating income into the country.

  • TAT prepares to propose a plan to create tourism stability for the new government Solve visa problems, increase quality foreign tourists –

Preparing to summarize the remaining balance from the We Travel Together Phase 5 project, returning to the treasury

  • Japanese government Revealing gross domestic product (GDP) in the first quarter of 2023 grew 1.6% year-on-year, which

It was the first expansion in three quarters.

  • The US Commerce Department said Retail sales rose 0.4% in April, but were below analysts’ expectations.

0.8% after falling 0.7% in March.

  • The U.S. dollar strengthened against major currencies in trading at the New York Stock Exchange on Tuesday (May 16).

c) responding to statements by Federal Reserve officials encouraging the Fed to continue raising interest rates to curb inflation.

  • New York gold futures closed Tuesday (May 16), with the market pressured by a strong dollar and

Comments from Federal Reserve officials (Fed) signaling support for the Fed to continue raising interest rates to curb inflation.

  • Atlanta Fed President The Fed is not expected to cut interest rates this year. because inflation tends to adjust in

High level longer than market expected

  • The New York Fed president said the Fed could raise interest rates further if inflation did not fall. and still invisible

The reason for the interest rate cut this year

  • The president of the Cleveland Fed branch signaled that Encourage the Fed to raise interest rates to further curb inflation.
  • Investors are keeping an eye on the outcome of talks between President Joe Biden and House Speaker Kevin McCarthy.

including leaders in Congress Both sides discussed for the second round about increasing the US debt ceiling.

  • Today’s key US economic data includes numbers starting to build houses in April. and weekly oil stock from the office

US Energy Information Administration (EIA)

2023-05-18 14:00:11
#Thai #baht #market #conditions #opened #depreciated #region #eye #domestic #politics #plans #expand #debt #ceiling

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