Thai baht depreciates While Thai stocks fluctuated throughout the week Keep an eye on the key factors for next week. February inflation figures Covid situation at home and abroad
Kasikorn Research Center Summary of the movement of the baht that The baht moved back to its feet on the lower side of the 30.00 baht / dollar line. The baht depreciated earlier this week, in line with foreign investors’ net selling positions in Thai stock and bond markets. While the dollar Appreciation following an increase in US Treasury yields. Amidst the hopes of economic recovery
However, the support of the dollar. Some slowdowns during the week following signs of easing from the Fed chairman’s statement. But the baht weakened again at the end of the week. There are additional negative factors from Thailand’s current account, which recorded a deficit in January. The past
On Thursday (25 February), the baht stood at 30.12, compared with 29.99 baht per dollar. On the previous Friday (Feb. 19)
For the next week (1-5 March), Kasikornbank estimates the Thai baht movement frame at 29.80-30.30 baht per dollar. While the Kasikorn Research Center evaluates key factors that need to be monitored, including issues related to US economic stimulus measures. The key US economic numbers are employment in the non-agricultural sector. Unemployment rate Private employment Manufacturing and service PMI / ISM index February And the amount of durable goods orders in January
Markets may also look forward to domestic and international COVID19, including China, Eurozone and UK manufacturing and service PMIs.
As for the movement of the Thai stock market Thai stocks fell from the previous week, with the SET index closed at 1,496.78 points, a 0.25% drop from the previous week. The average daily turnover was 99,088.73 million baht, an increase of 3.40% from the previous week, while the mai index fell 1.40% to close at 379.07 points.
Thai stocks fluctuated throughout the week. Thai stocks fell earlier this week in line with selling pressure on foreign markets. After the US Treasury yields rose, however, the SET Index rose briefly. Before the statement of the Fed chairman Before facing sales force again in the middle of the week from institutional and foreign investors.
However, Thai stocks recovered partially at the end of the week. Responding to the Fed president’s statement The stated policy will continue to be easing monetary policy. But the hikes were limited by the MSCI index’s weight reduction of Thai stocks, effective Feb. 25.
For the next week (1-5 March), Kasikorn Securities Co., Ltd. expects that the Thai stock index has support at 1,480 and 1,460 points, while resistance is at 1,510 and 1,525 points, respectively. That must be followed, including the Consumer Price Index for February. Of Thailand, the situation of COVID 19, both at home and abroad Including progress on the US economic stimulus measures
The key US economic data is the Manufacturing and Services PMI. Non-farm employment data, including February unemployment rate The other important foreign factors are manufacturing and service PMI index for February. Of China, Japan and the Eurozone As well as the February consumer price index. And retail sales in January Of the euro zone
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