Recent USD downward movement vs baht August 12, 2021

[david555]

22 hours ago, david555 said:

I hope the baht keeps going ....as in contradiction to many here  ...i have to transfer end year quit some baht out to Euros .....i was hoping the profit would come .... but the Baht's Teflon became ruining a bit .... now hope again on  my end year Baht to € ????

Ah that  good old Teflon / Kevlar bulletproof baht .... the western currencies are sliding down again .....????????.... when vaccination's are rolling out more it shall be O.K. again ????

 

If USA has no war's anymore running always $ slides down ....???? and the allies currencies follow ...

Edited August 13, 2021 by david555

[Isaan sailor]

30 minutes ago, chicowoodduck said:

Let me take a wild guess....you would love to have that former president (sorry, forgot his name) try and run the show.....right into the ground. ????????

And my wild guess:  someone adores Nancy P, as well as the sitting President.  It takes all kinds…

[Scouse123]

The Thai baht / USD  doesn't just keep running in a predictable straight line upwards or downwards, there are peaks and troughs dependent on external factors.

 

The current trend of the THB in medium term is downwards but these things as stated already, are always subject to external pressures and forces.

 

You should be happy for now at 33.30 THB to the USD.

 

 

 

 

Edited August 13, 2021 by Scouse123

[bamboozled]

Yes, that's the point of the post. Riffing on the reasons for the movements, up or down.

[earlinclaifornia]

On 8/12/2021 at 9:32 AM, ThailandRyan said:

Possibly the many trillion dollar infrastructure bill that was just passed two day ago.  Who really knows anymore.

I wondered if that was the case too. But look at the pound and the euro and the others and see that is normal. We are not right with that answer 

[DBath]

On 8/12/2021 at 6:11 AM, spidermike007 said:

I suspect you are correct. And I think an expectation of a continued downward trend for the baht, is reasonable. There really do not seem to be any positive fundamentals in the economy here. It is utterly devastated, real unemployment might be 30-45%, homelessness is skyrocketing, the condo market is dead in it's tracks, tourism may be gone forever (perhaps 5 million visitors by 2026?), the vaccination program continues to be bungled here, foreign investors are leaving in droves, and there is no confidence in this failed administration, nor is there any real hope for an improvement on any of these fronts, in the near future here. 

I think you’re spot on. It’s very difficult for most of us to connect the dots on what is real and what is being reported regarding the economies, not only in Thailand and the US, but here in the EU as well. I don’t trust any of it and I’m really struggling to see how or when I’ll ever be able to move my money out of cash. I used to scour the financial pages and stock results and felt like I could tell what was going on and would often be right. Now things are way more complicated, especially due to covid, IMO. 

[earlinclaifornia]

4 hours ago, bamboozled said:

Yes, that's the point of the post. Riffing on the reasons for the movements, up or down.

33.37 so it looks like only a blip but some good insight from TVF posters. Sticking with Covid situation for a continuation of bath heading south.

[jimn]

Nothing to do with the USD  its simply the regained strength of the baht which is stronger against the USD, Euro and the pound amoungst other currencies.

[bamboozled]

14 minutes ago, jimn said:

Nothing to do with the USD  its simply the regained strength of the baht which is stronger against the USD, Euro and the pound amoungst other currencies.

That's all fine and good but: why? Why is it stronger? If I thought to invest my money in Thai baht somehow, through whatever vehicle, I would look at the landscape and think no way am I doing that. Because there isn't anything good to see on the landscape. But either some people see something I'm not seeing which is certainly possible (the reason for the post) or that quick baht rise over the past three days was due to something else. And now I guess it's moving back to where it had been 3 days prior.

 

[earlinclaifornia]

6 hours ago, Isaan sailor said:

And my wild guess:  someone adores Nancy P, as well as the sitting President.  It takes all kinds…

You and I have two very different reads on Trump. Actually opposite I pretty much recall. I believe that investing strongly in America s the best medicine, period. To add to that lets me remind you:

After yesterday’s big jobs number, Biden has now created 4.1 million jobs in the first six months of his presidency.  Trump lost 2.9 million jobs over his four years in office.

https://www.counterpunch.org/2021/08/11/more-cheap-fun-job-growth-trump-v-biden/

 

Sorry for the cheap shot, pun intended but you started it with the Nancy Biden BS again

Edited August 13, 2021 by earlinclaifornia

[JayBird]

Just noticed it did a nearly 1% climb back up, with USD/THB @ 33.34 right now, and I saw it blink a little higher.

 

Whilst the USD/THB is showing +0.91%, the .DXY is showing -0.13%. 

 

I did not see a direct correlation to any news event, and there continues to be a flury of positive earnings reports for Thailand.

 

There was some items on Reuters newsline about the COVID situation, but nothing that wasn't already understood or expected.

Whatever was causing that momentarily blip may have just reversed itself.  Could also be some simple hedging into the weekend.

 

I will say this:

1) Doing a TransferWise USD->THB right now saved me a lot versus trying to get a rate from the bank.  It's nice seeing SPOT rate in TW, whereas BKK would easily take off 1% (or more).

 

2) No, I did not move enough cash to cause the dip in THB ????  

 

 

[DBath]

3 hours ago, bamboozled said:

That's all fine and good but: why? Why is it stronger? If I thought to invest my money in Thai baht somehow, through whatever vehicle, I would look at the landscape and think no way am I doing that. Because there isn't anything good to see on the landscape. But either some people see something I'm not seeing which is certainly possible (the reason for the post) or that quick baht rise over the past three days was due to something else. And now I guess it's moving back to where it had been 3 days prior.

 

My guess is: he/she or whatever they identify as has no clue.

[Isaan sailor]

4 hours ago, earlinclaifornia said:

You and I have two very different reads on Trump. Actually opposite I pretty much recall. I believe that investing strongly in America s the best medicine, period. To add to that lets me remind you:

After yesterday’s big jobs number, Biden has now created 4.1 million jobs in the first six months of his presidency.  Trump lost 2.9 million jobs over his four years in office.

https://www.counterpunch.org/2021/08/11/more-cheap-fun-job-growth-trump-v-biden/

 

Sorry for the cheap shot, pun intended but you started it with the Nancy Biden BS again

Earl, I cannot sway you, nor you me.  Good to hear from you anyway—long time.  Finally, the Baht has started to behave, and that makes things easier for expats.

[Isaan sailor]

5 hours ago, earlinclaifornia said:

33.37 so it looks like only a blip but some good insight from TVF posters. Sticking with Covid situation for a continuation of bath heading south.

33.30 now.  Too much of a good thing, I think.

[shortstop2]

4 hours ago, JayBird said:

It's nice seeing SPOT rate in TW

What's even nicer is comparing the stale rate that changes only once a day for cash advances from a debit card to the real spot rate.  

 

You can withdraw at the old rate even if the USD tanks that day.  Or conversely don't withdraw at the old rate on a day like today when the dollar is rising.

 

To make this worthwhile you need a debit card that rebates the Thai bank ATM fee and doesn't charge any added bank fees.

 

https://www.visa.co.th/en_TH/travel-with-visa/exchange-rate-calculator.html

 

 

 

[DBath]

8 hours ago, earlinclaifornia said:

 

…Nancy Biden and BS…

3 things that go well together????