Thai Baht Market Conditions: This evening’s baht strengthens at 35.27 following economic figures with good prospects | RYT9

A money manager from Bank of Ayudhya revealed that the baht this evening was at 35.27 baht / dollar, continuing to appreciate. Because the market opened this morning at 35.45 baht / dollar

baht this evening Appreciation from the morning While regional currencies move mixed because the economic figures in The country came out pretty well. In particular, the current account surplus turned positive. While the Monetary Policy Committee (MPC) signaled that it would gradually raise interest rates for a while. During the day, the baht moved within the range of 35.19 – 35.54 baht/dollar.

“Today, the baht appreciated to make new lows in more than 3 months at 35.19 baht / dollar, strengthening, leading the region, should be supported by good economic data,” said the money manager.

Tonight, the market is waiting for the speech of the Federal Reserve chairman (Fed) about the direction of interest rates. US policy

money manager Estimate the movement of the baht tomorrow at 35.20 – 35.50 baht / dollar.

THAI BATH SPOT RATE FIXING is at 35.2725 baht / dollar.

  • important factor

  • The yen was at 138.79 yen/dollar from 138.45 yen/dollar this morning.
  • The euro was at $1.0347 from $1.0350 this morning.
  • The Monetary Policy Committee (MPC) stated that the Thai economy is likely to continue to recover. by the tourism sector and

private consumption will continue to be an important driving force for the economy going forward And will help reduce the impact of the economic slowdown.

world, although Thailand’s economic growth forecasts (GDP) in 2012 and 2016 have slightly decreased from the previous

It is estimated that GDP in 2022 will grow by 3.2% from the previous 3.3% and in 2023 it will grow by 3.7% from 3.8% previously.

3.9%

  • The Monetary Policy Committee (MPC) unanimously resolved to raise the policy rate by 0.25% per year from

1.00% to 1.25% per annum, with immediate effect.

If the outlook for the Thai economy and inflation changes from the estimate, the MPC is ready to adjust the size. and the time of

further raise the policy interest rate appropriately

  • The Bank of Thailand (BOT) reveals that the economy and salaries in October 2022 are still in a recovering direction, despite receiving

The pressure from merchandise exports declined in line with the slowdown in demand from trading partners. and temporary factors from the shutdown of the oil refinery.

resulting in industrial production and private investment indicators declined. While private consumption indicators slightly decreased.

The tourism sector continued to recover in line with the number of foreign tourists. In addition, factors supporting purchasing power also improved in terms of employment.

Jobs, Income and Consumer Confidence

  • The Office of Industrial Economics (OIE) revealed that the Manufacturing Production Index (MPI) in October was at the level

93.89, a decrease of 3.71% from Oct. ’21, during the first 10 months of this year (Jan.-Oct.), the MPI index was 99.06, expanding

average 2.17%. The OIE estimates that in 2022, the MPI will grow by 1.9%, while the industrial GDP will grow by 2.0%.

In 2023, the MPI is expected to grow by 2.5-3.5%, while industrial GDP will grow by 2.5-3.5%.

  • The Constitutional Court pointed out that Section 25 and Section 26 of the Election Act on the Election of MPs do not contain conflicting or inconsistent statements.

against the constitution Including the process of enactment in accordance with the provisions of the Constitution

  • Goldman Analyst Team Sachs predicted that It is very likely that the Petroleum Exporting Countries (OPEC)

and partners (OPEC Plus) will continue to take measures to stem the fall in oil prices. and trying to balance the market

  • The Petroleum Exporting Countries (OPEC) and its allies (OPEC Plus) will cut output by 2 million barrels per year.

The date for December at a policy meeting on Dec. 4 amid concerns about declining demand in China.

  • Key US economic data to be reported tonight include ADP private payroll numbers for November,

Gross Domestic Product (GDP) 3Q/2022 (2nd Estimate), Job Openings and Rates

Labor turnover (JOLTS) Oct. pending home sales Oct.,

Weekly oil stock from the US Energy Information Administration (EIA) and economic summary report or Beige Book.

from the Federal Reserve (Fed)


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