International issues to influence baht rate this week

[webfact]

International issues to influence baht rate this week

By The Nation

 

 

The Bank of Thailand will hold a press conference on the monetary policy and baht exchange rate situation, amid concerns of the baht remaining strong.

 

The next round of US-China trade negotiations, the Middle East situation and key economic data will affect the baht’s value this week, says Kasikornbank (KBank).

 

The Bank of Thailand will hold a press conference tomorrow on the monetary policy and baht exchange rate situation, amid concerns of the baht remaining strong.

 

Last week, the baht moved within a tight range early in the week before hitting a one-month low of Bt30.37 to the US dollar in line with weak regional currencies amid concerns over rising tensions in the Middle East, after Iran attacked US troops in Iraq in response to the US airstrike on January 3, according to KBank report.

 

However, the baht pared losses somewhat later in the week, as US announced economic sanctions instead of military actions against Iran, which helped calm market concerns over the situation in the Middle East.

 

Meanwhile, the market shifted its focus to preparations for the signing of the first phase of the US-China trade deal around mid-January.

 

On Friday (January 10), the baht closed at Bt30.23 to the dollar, versus Bt30.15/USD reported on Friday (January 3).

 

During the week January 13-17, KBank expects the baht will move within a range of Bt30.00-30.40/USD. Key factors to be monitored closely include signals for subsequent phases of the US-China trade talks, issues surrounding Brexit and the situation in the Middle East.

 

The US economic data to be released during the week include consumer price index, producer price index, retail sales, housing starts, and industrial production data for December 2019, plus the NAHB Housing Market Index, NY Fed Empire State Manufacturing survey, Philly Fed Business Outlook survey and Preliminary Consumer Sentiment survey for January 2020. In addition, market participants may monitor China’s fourth-quarter GDP report for 2019 and December 2019 economic data.

 

Source: https://www.nationthailand.com/business/30380477

 

-- © Copyright The Nation Thailand 2020-01-14

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[legend49]

So they are still blaming global activities for not managing the baht.

[colinneil]

Pathetic isnt it, always somebody elses fault.

Blame anybody/ anything but not us.????

[RichardColeman]

4 hours ago, webfact said:

On Friday (January 10), the baht closed at Bt30.23 to the dollar, versus Bt30.15/USD reported on Friday (January 3). During the week January 13-17, KBank expects the baht will move within a range of Bt30.00-30.40/USD.

So, forecast is might go up , might go down. How much are these clownss paid ? 

[bluesofa]

13 minutes ago, RichardColeman said:

So, forecast is might go up , might go down. How much are these clownss paid ? 

Perhaps they should pay them in dollars, should sort it out.

[Isaan sailor]

Don’t bother with bank analysts, or BoT lame excuses.  Just look at the inversion—Baht vs USD, and Baht vs Chinese Yuan. Tells you all you need to know—corruption.

[hotchilli]

1 hour ago, RichardColeman said:

So, forecast is might go up , might go down. How much are these clownss paid ? 

More than you.. [just a guess]

[Baerboxer]

3 hours ago, legend49 said:

So they are still blaming global activities for not managing the baht.

 

And exactly how do you think "they", or any country come to that, should manage the baht or their respective currency?

[morrobay]

2 hours ago, Isaan sailor said:

Don’t bother with bank analysts, or BoT lame excuses.  Just look at the inversion—Baht vs USD, and Baht vs Chinese Yuan. Tells you all you need to know—corruption.

Well 30.26 baht/$

And  6.9 yuan/$ 

So the baht to yuan is determined by above :   30.26 baht/$/6.9 yuan/$ = 4.38 baht/yuan 

[khunPer]

5 hours ago, RichardColeman said:

So, forecast is might go up , might go down. How much are these clownss paid ? 

Can you do it better than "these clowns"?

If they really can predict the currency fluktuation changes, they would already be multi billionaires – in dollars... 

[morrobay]

20 hours ago, morrobay said:

Well 30.26 baht/$

And  6.9 yuan/$ 

So the baht to yuan is determined by above :   30.26 baht/$/6.9 yuan/$ = 4.38 baht/yuan 

 

20 hours ago, morrobay said:

 

And furthermore if BOT inflated baht/yuan say to 5baht/yuan without also increasing baht/$ , a daisy chain could generate dollars. Eg- with $1 buy. 6.9 yuan. Then 6.9 yuan x 5 baht/yuan buys 34.5 baht. And 34.5 baht x $1/30.6 baht = $1.14 

Edited January 15, 2020 by morrobay