Important data next week to determine baht's direction

[rooster59]

Important data next week to determine baht's direction

By THE NATION

 

 

The baht next week (August 31 to September 4) would move between 31.10 and 31.50 per US dollar, Kasikornbank has predicted.

 

 

The important factors worth monitoring are the Bank of Thailand report for July, the political situation in Thailand, the US Purchasing Managers Index (PMI), its construction report for July, non-farm payrolls, and the Fed’s beige book.

 

The bank analyst advised investors to monitor the PMI for August of China, the euro zone and Japan.

 

On Friday (August 28), the baht closed at 31.16, strengthening from its close of 31.55 on August 21.

 

The bank analyst explained that the Thai currency this week had strengthened in line with that of other Asian countries.

 

Source: https://www.nationthailand.com/news/30393716

 

-- © Copyright The Nation Thailand 2020-08-29

 

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[4MyEgo]

9 minutes ago, rooster59 said:

On Friday (August 28), the baht closed at 31.16, strengthening from its close of 31.55 on August 21.

That doesn't make much sense, shouldn't it be the other way around ?

[toofarnorth]

19 minutes ago, 4MyEgo said:

That doesn't make much sense, shouldn't it be the other way around ?

Don't think so . You now need more dollars to buy Baht.

[Laza 45]

I think the US Fed freeze on interest rates and intention to let inflation rise above the 2% benchmark is the elephant in the room.. $Au is already appreciating.. 

 

[4MyEgo]

15 minutes ago, toofarnorth said:

Don't think so . You now need more dollars to buy Baht.

$1,000 USD as at 28 August @ 31.16 Baht = 31,160 Baht

 

$1,000 USD as at 21 August @ 31.55 Baht = 31,550 Baht

 

How can that mean you need more dollars to buy the Baht as at 28 August vs 21 August  ?

 

[johng]

12 minutes ago, 4MyEgo said:

$1,000 USD as at 28 August @ 31.16 Baht = 31,160 Baht

 

$1,000 USD as at 21 August @ 31.55 Baht = 31,550 Baht

You now need  1012.5 dollars to buy 31,550 Baht

[4MyEgo]

21 minutes ago, johng said:

You now need  1012.5 dollars to buy 31,550 Baht

Once in a blue moon, I get a brain freeze....lol

 

Your 110% correct ????

 

 

[Isaan sailor]

BTW the Baht rose to 31.10 vs USD.  At this torrid rate of appreciation, the mighty Baht will finally reach parity with the USD by year end.  And that’s OK with me.  I’ll cash in my Baht, and return to America as a multi-millionaire...

[vivananahuahin]

Forget it there is something hanging in the air very soon.

The bank analyst explained that the Thai currency this week had strengthened in line with that of other Asian countries,between the lines if they drown we will drown together.

[digger70]

6 hours ago, Laza 45 said:

I think the US Fed freeze on interest rates and intention to let inflation rise above the 2% benchmark is the elephant in the room.. $Au is already appreciating.. 

 

Yep, our Au $ closed this week on a high note THB 22.9 per $ Au 1.00   With some luck it will keep going a bit more. ????