Slew of factors to impact stocks, baht and gold next week

[rooster59]

Slew of factors to impact stocks, baht and gold next week

By The Nation

 

 

Investors have been advised to follow key domestic and international developments as a mix of these would impact the Stock Exchange of Thailand (SET) Index, the baht and gold price next week.

 

 

The SET Index on Friday closed at 1,437.78, up 4.22 points or 0.29 per cent, with transactions amounting to Bt77.32 billion, buoyed by positive news of a Covid-19 vaccine.

 

Institutional investors and securities accounts made net buys of Bt1.66 billion and Bt1.43 billion respectively, while foreign and individual investors made net sales of Bt498.52 million and Bt2.60 billion respectively.

 

An analyst at Kasikorn Securities expected the SET next week to move between 1,430 and 1,470, advising investors to follow the Thai government's economic stimulus measures and the political situation, as well as the Covid-19 crisis, Brexit and the Opec+ meeting.

 

The baht closed at 30.29 to the US dollar on Friday.

 

A strategist at Kasikorn Research Centre expected the baht next week to move between 30.00 and 30.40 to the dollar. He advised investors to follow the Fed's statement, the currency market's response to president-elect Joe Biden's economic team, the Covid-19 crisis, China and the euro-zone's manufacturing and service purchasing managers' index.

 

Gold price on Friday closed at US$1,810.13 per ounce, while in Thailand it closed at Bt25,950 per baht weight.

 

An analyst at YLG Bullion International said there was limited upside for the price to rise amid hopes of AstraZeneca's Covid-19 vaccine.

 

He said if gold price cannot rise above the resistance line between $1,818 and $1,821 per ounce, the price would fall to the support line between $1,794 and $1,800 per ounce.

 

"However, the price would rise to $1,833 per ounce if it can rise through the current resistance line, so we advise investors to buy the precious metal when the price falls and sell some of it when the price rises," he said.

 

Source: https://www.nationthailand.com/business/30398744

 

-- © Copyright The Nation Thailand 2020-11-29

 

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[RichardColeman]

5 minutes ago, rooster59 said:

The baht closed at 30.29 to the US dollar on Friday.

 

A strategist at Kasikorn Research Centre expected the baht next week to move between 30.00 and 30.40 to the dollar.

How many times do these thai financial wizzos have to come out with 'might go up, might go down' for them not to be taken seriously any more ? 

[Narratio]

With a headline like "Slew of factors to impact stocks, baht and gold next week", we're expecting a story about large rise/drop predicted not that it'll be about the same.

[digger70]

10 hours ago, rooster59 said:

Slew of factors to impact stocks, baht and gold next week

Impact What? Those 1 or 2  points either way just means it will stay same What a useless forecast   ????

[spidermike007]

A strategist at Kasikorn Research Centre expected the baht next week to move between 30.00 and 30.40 to the dollar. Wow, a genuine crystal ball. And I predict the weather next week will remain somewhere between 24 and 27 at night and 31 to 37 during the day in the south, and 14 to 23 at night and 24 to 35 during the day in the north. Call me a prophet! 

[hotchilli]

15 minutes ago, spidermike007 said:

A strategist at Kasikorn Research Centre expected the baht next week to move between 30.00 and 30.40 to the dollar. Wow, a genuine crystal ball. And I predict the weather next week will remain somewhere between 24 and 27 at night and 31 to 37 during the day in the south, and 14 to 23 at night and 24 to 35 during the day in the north. Call me a prophet! 

Well said prophet.

[Brer]

“so we advise investors to buy the precious metal when the price falls and sell some of it when the price rises," he said.

 

That advice borders on absolute genius, it’s the key I have been looking for in my trading, from now on I will follow that incredible advice.

[Natai Beach]

54 minutes ago, spidermike007 said:

A
I predict the weather next week will remain somewhere between 31 to 37 during the day in the south. Call me a prophet! 

Nah

Not a prophet.
Probably wrong again. 

I will stick with the experts. 
 

 

 

 

[EricTh]

I predict that the US dollar is going to weaken further to 28-29 baht. 30.4 is too optimistic.

 

Considering that the BOT doesn't seem to be able to control the appreciation of Thai baht judging by the pathetic attempt recently of allowing Thai investors to invest abroad more easily.

 

How many Thai have huge amount of money to invest abroad in Covid times? 

 

Edited November 29, 2020 by EricTh