Negative factors likely to influence baht, SET next week

By The Nation

 

 

Various domestic and international negative factors would pressure the baht and stock market next week, experts said.

 

 

The baht weakened against the dollar this week (September 21-25), as domestic and international factors caused uncertainty among investors.

 

An analyst at CIMB Thai Bank expected the baht next week to move between 31.30 and Bt31.80 against the dollar.

 

"Next week, the Bank of Thailand will report the country's economic indicators in August, while there are many factors that investors will need to follow, such as the Covid-19 situation that has not been resolved, US politics with the presidential election approaching, and trade negotiations between the United Kingdom and the European Union," the analyst said.

 

The Stock Exchange of Thailand Index on Friday (September 25) closed at 1,244.94, down 2.52 points or 0.20 per cent, while total transactions amounted to Bt45.62 billion.

 

An analyst at Kasikorn Securities expected the index next week to move between 1,238 and 1,280 due to lack of new positive sentiment both domestic and international.

 

"Meanwhile, the index would be under pressure from the delay in the development of a Covid-19 vaccine and commercial banks' third-quarter performance," the analyst said.

 

Gold price on Saturday was quoted at US$1,860.50 per ounce, while the price in Thailand was Bt27,850 per baht weight.

 

An analyst at YLG Bullion International advised investors to beware of mass sell-offs if the price cannot rise over the resistance line between $1,876 and $1,890 per ounce.

 

"Investors can sell some of the metal to reduce risk and buy back when the price drops to the support line between $1,847 per ounce," the analyst said.

 

Source: https://www.nationthailand.com/business/30395176

 

-- © Copyright The Nation Thailand 2020-09-27

 

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Most countries are going into massive debt because of the virus,  unemployment. and lack of a quick resolution. 

 

Printing gobs of money has proven to be a bad omen for a country's currency value.

 

Gold and silver are tangible commodities...price will fluctuate as world events ebb and flow...not going to lose value dramatically like paper money can and will...

Baht may go up, or Baht may go down in the week ahead.  Wow, such clairvoyance. 

Oh Magic 8 ball, will my monthly USD to THB wire I send this next week be worth more than last month or less.  You have to make me laugh with the 

7 hours ago, rooster59 said:

while there are many factors that investors will need to follow, such as the Covid-19 situation that has not been resolved, US politics with the presidential election approaching, and trade negotiations between the United Kingdom and the European Union," the analyst said.

This is not new news, and if it has not affected the High Flying Baht, I do not see a sharp change until Thailand has its economic meltdown which is on the horizon if they keep going the way they are.

10 hours ago, rooster59 said:

The baht weakened against the dollar this week

More accurate, "The dollar strengthened against the baht this week."

2 hours ago, ThailandRyan said:

Oh Magic 8 ball, will my monthly USD to THB wire I send this next week be worth more than last month or less.  You have to make me laugh with the 

This is not new news, and if it has not affected the High Flying Baht, I do not see a sharp change until Thailand has its economic meltdown which is on the horizon if they keep going the way they are.

I'm waiting for the horizon to come into touch... then I will wait to see the teflon baht fall.

8 hours ago, Puchaiyank said:

Most countries are going into massive debt because of the virus,  unemployment. and lack of a quick resolution. 

 

Printing gobs of money has proven to be a bad omen for a country's currency value.

 

Gold and silver are tangible commodities...price will fluctuate as world events ebb and flow...not going to lose value dramatically like paper money can and will...

Printing gobs of money is OK as long as it is for internal use only, inflation isn't a problem at the moment, in fact there isn't enough inflation. The alternative is a slew of bankruptcies both private and commercial and mass unemployment with unrest on the streets. There will be tax increases now to sanitize the money, not on wages probably, I've read that Germany is proposing tax on non-recycled plastics, carbon polluters etc. but that will only slowly make its way through to the wallets.

1 hour ago, connda said:

More accurate, "The dollar strengthened against the baht this week."

True but the Dollar of late is like a blade of grass in the wind, up and down like a jojo depending on what rubish Trump spouts, the stock markets are already uneasy about Trump refusing to go gracefully if he loses, imagine the fall then if he has to be removed by the army.

1 minute ago, soalbundy said:

like a jojo

You meant a YoYo right, as a JoJo is a type of fried potato with seasoning in the US

 

10 minutes ago, ThailandRyan said:

You meant a YoYo right, as a JoJo is a type of fried potato with seasoning in the US

 

I was thinking in German as I had just finished writing an email to my German daughter, the J is pronounced as a Y, so yes you are correct I meant yoyo.

Should have said "up and down like a whore's drawers".

I should have thought the main thing weighing on the Baht is the ongoing political situation which shows no signs of a way to resolve the problem that would accommodate both sides. We seem to be stuck with the two extremes, maintain the status quo or open revolution. 

On 9/27/2020 at 6:21 PM, Guderian said:

I should have thought the main thing weighing on the Baht is the ongoing political situation which shows no signs of a way to resolve the problem that would accommodate both sides. We seem to be stuck with the two extremes, maintain the status quo or open revolution. 

The problem has been fixed.  Thailand now has a dictatorship disguised as a democracy, and will do for the foreseeable future.