KBANK predicts Baht at 32.30-33.00 monitoring MPC and US Fed

MGR Online•Economy•4d ago

Reader Briefing

Kasikornbank forecasts the Thai Baht to move between 32.30 and 33.00 per US Dollar for the week of August 24-28.

•Kasikornbank predicts a currency range of 32.30-33.00 Baht/Dollar for August 24-28.
•The Baht reached a 2-month high of 32.64 Baht/Dollar aligned with rising global gold prices.
•Key upcoming factors include the Monetary Policy Committee meeting on August 26 and the Fed Chair's speech at Jackson Hole.
•The US Dollar fluctuated due to weak US economic data and tensions in the Middle East.

•Kasikornbank expects the Baht to move between 32.30-33.00 Baht/Dollar during August 24-28, following a closing rate of 32.67 Baht/Dollar on Friday, August 21.
•The Baht strengthened early in the week because weak US economic data led the market to believe the Federal Reserve might not rush to raise policy interest rates.
•Thai Baht received positive support from Thailand's Q2/69 GDP figures, which slowed down less than analysts had predicted.
•The Baht weakened partially as the US Dollar recovered due to tensions in the Middle East after US-Iran negotiations remained inconclusive and a ceasefire ended on August 17.
•The Baht reached a 2-month high of 32.64 Baht/Dollar, correlating with an increase in global gold prices and a weakening US Dollar.
•The US Dollar weakened after the US Treasury Secretary signaled a possible increase in long-term government bond buybacks beyond previous announcements.
•Asian currencies strengthened following the Japanese Yen, which was supported by rising core inflation in Japan for July.
•Key monitors for the following week include the Monetary Policy Committee meeting on August 26, July export figures, and the Fed Chair's speech at Jackson Hole.

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Kasikornbank(ธนาคารกสิกรไทย)ℹ️

A bank that provided the currency movement forecast for the Thai Baht.

Federal Reserve(ธนาคารกลางสหรัฐ)ℹ️

The US central bank whose interest rate decisions impact the US Dollar.

Bank of Japan(ธนาคารกลางญี่ปุ่น)ℹ️

The central bank of Japan with potential for interest rate hikes.

Monetary Policy Committee(คณะกรรมการนโยบายการเงิน)

A committee with a meeting scheduled for August 26.

United States(สหรัฐฯ)ℹ️

A country whose economic data and diplomatic negotiations with Iran affect currency markets.

Iran(อิหร่าน)ℹ️

A country involved in inconclusive negotiations with the United States.

Middle East(ตะวันออกกลาง)ℹ️

A region where tensions are causing concerns in the financial markets.

Japan(ญี่ปุ่น)ℹ️

A country whose core inflation figures in July supported the Japanese Yen.

Jackson Holeℹ️

The location where the Fed Chair is expected to deliver a speech.

US Treasury Secretary(รมว. คลังสหรัฐฯ)ℹ️

A US official who signaled a possible increase in long-term government bond buybacks.