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Thai baht market conditions: open 30.15 / 19 weaken after strong dollar | RYT9

A money manager from Bangkok Bank revealed that the baht opened this morning at 30.15 / 19 baht / dollar, depreciating from the evening. Friday closed at 30.07 baht / dollar

The baht this morning depreciated from Friday evening. This is a result of the US dollar appreciating against other currencies. Because of the down The capital provided anticipation for the new round of US economic stimulus measures. Under the new government of President Joe Biden that will help. Can revive the US economy

“Baht depreciates against Today the price of gold went down. The dollar appreciates against other currencies. Because investors expect the US economy to recover from this new stimulus package, ”the money executive said.

Money managers expect the baht to move in the range of 30.15-30.30 baht / dollar today.

THAI BAHT FIX 3M (8 Jan) was at 0.35148% while THAI BAHT FIX 6M was at 0.35107%.

  • Key factor

  • The yen stood at 104.16 yen / dollar from Friday evening of 103.80 yen / dollar.
  • The euro was at $ 1.2180 / euro from Friday evening at $ 1.2237 / euro.
  • Exchange rate baht / dollar The BOT’s interbank weighted average is at 30.104 baht / dollar.
  • The dollar appreciates against all major currencies. In trading at the New York Exchange on Friday (8 Jan) because

From investors to the trend of the new US government that President Joe Biden will release massive stimulus measures.

  • The number of non-farm payrolls fell by 140,000 in December. In contrast to what analysts had expected

An increase of 50,000 jobs, analysts said, that the weak employment numbers in December. Will be a driving factor for the new US government

Accelerate the release of major economic stimulus measures To remedy the effects of COVID-19

  • COMEX (Commodity Exchange) gold contract for February delivery Fell $ 78.20, or 4.09% to close at

$ 1,835.40 / oz and was down 3.2% over the past week. The New York gold contract closed more than 4% on Friday.

(Jan. 8) with the most one-day fall since the beginning of November. This was due to the rebound in bond yields.

The US government and the stronger dollar

  • The International Monetary Fund (IMF) said that the Chinese economy will expand by 7.9% in 2021 after expanding 1.9% in

2020, as China’s economic activity will continue to adjust to normal. And China can still control the spread of COVID –

19 domestic

  • The US will report on key economic data this week, including the December inflation rate, the economic recap.

(Beige Book) from the Federal Reserve, weekly number of unemployment claims, the producer price index (PPI) of December, and

Consumer confidence in January etc.

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