TheCruncher Posted October 7, 2015 Share Posted October 7, 2015 (edited) Odd that the USD is taking a nosedive against the THB today. Wonder what's happening.... Baht getting stronger against all major currencies today. Wonder where the support comes from. all Asian (and a bunch of other) currencies are strengthening vs. USD. Is USD the only major currency or are GBP, Euro also considered major currencies? So are all Asian currencies strengthening against GBP and Euro as well today? I notice by the way that Baht is weakening against AUD today, and quite a bit in fact. Edited October 7, 2015 by TheCruncher Link to comment Share on other sites More sharing options...
CMguy Posted October 7, 2015 Share Posted October 7, 2015 While I expected a drop in usd this week, this has slightly exceeded my expectations For this week, and of course the week is not over yet. Oil sure got a nice bump up in price lately Hmmm..... Link to comment Share on other sites More sharing options...
Naam Posted October 7, 2015 Share Posted October 7, 2015 Baht getting stronger against all major currencies today. Wonder where the support comes from. all Asian (and a bunch of other) currencies are strengthening vs. USD. Is USD the only major currency or are GBP, Euro also considered major currencies? So are all Asian currencies strengthening against GBP and Euro as well today? I notice by the way that Baht is weakening against AUD today, and quite a bit in fact. So are all Asian currencies strengthening against GBP and Euro as well today? yes, they did strengthen and so did a number of emerging economies currencies. the former big losers, e.g. MYR, IDR, ZAR and BRL had the highest gains vs. USD, GBP and EUR. Link to comment Share on other sites More sharing options...
Naam Posted October 7, 2015 Share Posted October 7, 2015 I notice by the way that Baht is weakening against AUD today, and quite a bit in fact. AUD and NZD did rise in tandem with most Asian currencies. Link to comment Share on other sites More sharing options...
TheCruncher Posted December 14, 2015 Share Posted December 14, 2015 Thai Baht nicely tanking against all major currencies for the past week. Link to comment Share on other sites More sharing options...
HenryB Posted December 14, 2015 Share Posted December 14, 2015 Today 36.22 to the Dollars Nobody knows where it will be in 6 weeks or 6 years. Bets are made on both sides Link to comment Share on other sites More sharing options...
Pib Posted December 14, 2015 Share Posted December 14, 2015 A Bloomberg 14 Dec 15 article on the USD with some partial quotes from it. If the so called experts mentioned in the article are correct with their crystal ball predictions 2016 could be a very good year for the USD...but other currencies like the AUD will suffer. Time will tell.Wall Street's 2016 Currency Consensus Is All About the Dollar Buy the dollar. Again. That’s the message for next year from the biggest banks trading in the $5.3-trillion-a-day currency market. Deutsche Bank AG, the world’s second-largest currency trader in Euromoney rankings, says the dollar’s rally has plenty of room to run -- another two years, and about 10 percent on a trade-weighted basis. JPMorgan Chase & Co. says the dollar will strengthen versus the currencies of New Zealand and Singapore, peaking in the second half of 2016. Goldman Sachs Group Inc., Barclays Plc and Credit Suisse Group AG are also bullish as the Federal Reserve moves toward raising interest rates for the first time in almost a decade.“We expect broad dollar appreciation in 2016,” said Todd Elmer, a currency strategist in Singapore at Citigroup Inc., which was first in the Euromoney rankings. “If the market moves to price in a steeper trajectory from the Fed, then that’s going to bring back the theme of cyclical and policy divergence between the U.S. and other major economies.” Buy U.S. dollar, sell euroRecommended by: Deutsche Bank, Barclays, Goldman Sachs, BNP Paribas SA, Credit Suisse Buy U.S. dollar, sell Australian dollarRecommended by: Barclays, Morgan Stanley, BNP Paribas, Credit Suisse, Danske Bank A/SThe Australian dollar will remain one of the weakest Group-of-10 currencies next year, according to analysts led by Hans Redeker, Morgan Stanley’s head of global foreign-exchange strategy in London. That’s because "a rapidly changing Chinese economy, falling domestic terms of trade, weak competitiveness, shrinking rate differentials and external vulnerability" will drag down the currency.The Aussie tumbled 12 percent against the U.S. dollar this year as Chinese demand for iron ore, Australia’s biggest export, slumped. Link to comment Share on other sites More sharing options...
TheCruncher Posted December 28, 2015 Share Posted December 28, 2015 I think on Christmas day it became quite obvious that, regardless of what the Thai government claims, they are supporting the Baht massively. On that day, when only the Thai and a few select markets are open, the USD>THB rate went from 36.04 to 35.88 in a single day while the Euro declined in a similar way to the Thai Baht. Of course as soon as the markets opened today, the exchange rates went back to where they were the day before Christmas. I'm not a financial expert, but in my opinion such thing can only happen when there is one sided support for a currency. Link to comment Share on other sites More sharing options...
chiang mai Posted December 28, 2015 Share Posted December 28, 2015 I think on Christmas day it became quite obvious that, regardless of what the Thai government claims, they are supporting the Baht massively. On that day, when only the Thai and a few select markets are open, the USD>THB rate went from 36.04 to 35.88 in a single day while the Euro declined in a similar way to the Thai Baht. Of course as soon as the markets opened today, the exchange rates went back to where they were the day before Christmas. I'm not a financial expert, but in my opinion such thing can only happen when there is one sided support for a currency. And what does the Thai government say on this subject? If you were to ask them the question they would respond by saying something like, government does not have a role in managing the value of THB, that is exclusively the job of the Central Bank of Thailand (BOT). So if you were to ask the BOT that same question they would respond by saying something like, yes, we manage the value of THB by buying and selling currencies from time to time, this is because we operate a managed float system. We do that in order to smooth the rate of strengthening or weakening of THB in order to aid our exports and we manage the level of THB against a basket of currencies including the ASEAN currencies, RMB, USD, GBP and seventeen other currencies - and sometimes we do these things on holidays, even on Xmas day, all of which has been public knowledge for many many years! Link to comment Share on other sites More sharing options...
lannarebirth Posted December 28, 2015 Share Posted December 28, 2015 I think on Christmas day it became quite obvious that, regardless of what the Thai government claims, they are supporting the Baht massively. On that day, when only the Thai and a few select markets are open, the USD>THB rate went from 36.04 to 35.88 in a single day while the Euro declined in a similar way to the Thai Baht. Of course as soon as the markets opened today, the exchange rates went back to where they were the day before Christmas. I'm not a financial expert, but in my opinion such thing can only happen when there is one sided support for a currency. And what does the Thai government say on this subject? If you were to ask them the question they would respond by saying something like, government does not have a role in managing the value of THB, that is exclusively the job of the Central Bank of Thailand (BOT). So if you were to ask the BOT that same question they would respond by saying something like, yes, we manage the value of THB by buying and selling currencies from time to time, this is because we operate a managed float system. We do that in order to smooth the rate of strengthening or weakening of THB in order to aid our exports and we manage the level of THB against a basket of currencies including the ASEAN currencies, RMB, USD, GBP and seventeen other currencies - and sometimes we do these things on holidays, even on Xmas day, all of which has been public knowledge for many many years! And sometimes the market is just illiquid and there are not enough buyers at a nearby price to accommodate someone who needs to sell, and vice versa. Link to comment Share on other sites More sharing options...
Gutenberg Posted December 28, 2015 Share Posted December 28, 2015 http://www.tradingeconomics.com/thailand/currency/forecast 2016/17: probably 1USD = 38THB 2020: Doomsday, 1USD = 28THB Link to comment Share on other sites More sharing options...
stament Posted December 29, 2015 Share Posted December 29, 2015 Why the big meltdown after 2016/ in 2020? Link to comment Share on other sites More sharing options...
puukao Posted December 29, 2015 Share Posted December 29, 2015 2073: 245 3199: 8 5259: 125 USD to 1 Baht and Year 10,235: 0. Both baht and USD merged to the new X currency thank me later Link to comment Share on other sites More sharing options...
Gutenberg Posted December 29, 2015 Share Posted December 29, 2015 Why the big meltdown after 2016/ in 2020? Probably because every 8-10 year there is a financial crisis in the west. Link to comment Share on other sites More sharing options...
stament Posted January 5, 2016 Share Posted January 5, 2016 Touched 36.19 yesterday before closing at 36.14 where do we see it going today. Was the gold and oil price increase the reason for the drop off at the end of the day? Link to comment Share on other sites More sharing options...
stament Posted May 23, 2016 Share Posted May 23, 2016 interested in the original ops thoughts ;-) Link to comment Share on other sites More sharing options...
.png.3b3332cc2256ad0edbc2fe9404feeef0.png)
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now