Baht seen strengthening next week but US economic data holds key

[rooster59]

Baht seen strengthening next week but US economic data holds key

By THE NATION

 

 

The baht will trade next week (June 8 to 12) at around Bt31.30 to Bt31.70 to the US dollar, and important factors worth monitoring are the Fed meeting and dot plots, and estimation of US economic numbers, according to Kasikornbank.

 

 

Important economic numbers, such as consumer and producer price, export and import and consumer confidence indices will be announced next week.

 

The bank also advised the market to monitor the Covid-19 situation, the US- China conflict, and Chinese economic numbers in late May.

 

The baht this week (June 1 to 5) touched its highest level in the past two months, at around Bt31.45 to the US dollar. The strengthening of the baht was line with other Asian currencies.

 

In addition, the baht was supported by foreign investors through purchase of stocks and bonds, the bank added.

 

The baht on Friday (June 5) closed at Bt31.46, strengthening from Bt31.81 the previous Friday (May 29).

 

Source: https://www.nationthailand.com/news/30389158

 

-- © Copyright The Nation Thailand 2020-06-07

 

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[tonray]

????????????...please somebody make it stop...

[nausea]

Sigh.

[Trillian]

Foreign investors pumped USD 198 mill. into The SET since the start of the month, what else can the Baht do but get stronger.

[vivananahuahin]

TH beginning of the end,we coming in a recession, look the inflation.

[bluesofa]

4 hours ago, rooster59 said:

The baht this week (June 1 to 5) touched its highest level in the past two months, at around Bt31.45 to the US dollar.

Oh dear. That will trigger more 'worrying' for the BOT governor.

Perhaps he should delegate someone to do the worrying for him.

[Brunolem]

5 hours ago, rooster59 said:

The bank also advised the market to monitor the Covid-19 situation, the US- China conflict, and Chinese economic numbers in late May.

The covid 19 numbers are very high but nobody cares anymore, it has gone out of fashion... it's all about the no social distancing riots now... 

 

There is no US-China conflict... yet... just bombastic statements...for the time being... 

 

Chinese economic numbers are as reliable as US economic numbers... a load of BS... 

 

The only thing that needs monitoring is the health of the money printing press in the basement of the Federal Reserve, which is feeding the Wall Street beast, and incidentally other stock markets worldwide, the Thai one included. 

 

 

 

 

[hotchilli]

3 hours ago, vivananahuahin said:

TH beginning of the end,we coming in a recession, look the inflation.

Everyone will be at home soon doing sod-all, government will subsidise all products to off-set the baht value, what could possible go wrong!

[Skeptic7]

5 hours ago, vivananahuahin said:

TH beginning of the end,we coming in a recession, look the inflation.

555 Yeah right! Those of us long-timers have been hearing that since the "Asian Contagion" of '97! It's a bullet-proof economy and currency. Fueled on slave labor wages. The place has suffered more political, economic and natural disaster than any...yet the baht and the economy remain strong. Near zero labor costs, while 'Western" prices+ charged, will boost any economy. 

Edited June 7, 2020 by Skeptic7

[nausea]

5 hours ago, Skeptic7 said:

The place has suffered more political, economic and natural disaster than any...yet the baht and the economy remain strong.

It's not caĺled "Teflon Thailand' for nothing.

[Tropposurfer]

Bad news for moi .. no babes n beer for this fella ????

[kingdong]

The baht will keep getting stronger,will soon be on parity with the dollar ....1 usd=1 baht bar owners will recoup their losses in a weekend,and the girls will be wanting 10,000 baht l/t.

[kingdong]

3 hours ago, nausea said:

It's not caĺled "Teflon Thailand' for nothing.

The lull before the storm.

[Isaan sailor]

13 hours ago, kingdong said:

The baht will keep getting stronger,will soon be on parity with the dollar ....1 usd=1 baht bar owners will recoup their losses in a weekend,and the girls will be wanting 10,000 baht l/t.

I kinda hope you’re right.  With USD/Baht parity, I can cash in my Baht, and return to USA as a millionaire.

[Isaan sailor]

BoT will now spring into action...and do nothing.

[Brunolem]

9 minutes ago, Isaan sailor said:

I kinda hope you’re right.  With USD/Baht parity, I can cash in my Baht, and return to USA as a millionaire.

The problem is that a loaf of bread will cost one million...or more... 

[Trillian]

It's difficult to understand the logic that suggests inflation is on the cards when the country is on the edge of technical deflation, albeit caused by artificially low demand. But Thailand has had problems with low inflation for many years although BOT policy on inflation keeps changing, their policy document makes for interesting reading:

 

https://www.bot.or.th/English/MonetaryPolicy/MonetPolicyKnowledge/Pages/Target.aspx

[tonray]

Any day now the Bank of Thailand going to jump in....ha ha ha ha h a

 

 

30.93...and sinking fast

 

From 33 to under 31 in 2 months...

 

On a typical 800,000 baht retirement transfer..

 

@ 33:     $24,242

@ 30.93 $25,865

 

Difference: $1623...

 

????????????????

 

 

Edited June 11, 2020 by tonray

[Brunolem]

38 minutes ago, tonray said:

Any day now the Bank of Thailand going to jump in....ha ha ha ha h a

 

 

30.93...and sinking fast

 

From 33 to under 31 in 2 months...

 

On a typical 800,000 baht retirement transfer..

 

@ 33:     $24,242

@ 30.93 $25,865

 

Difference: $1623...

 

????????????????

 

 

The spineless empty suit at the Federal Reserve just decided to let the dollar printing press run at full capacity... expect the worse (appreciation) for the baht and some other currencies...