The baht depreciated

Keep an eye on next week's export numbers April-Politics in Thailand
The baht depreciated This was in line with selling pressure on Thai stocks and bonds amid political uncertainty on the issue of government formation. while the dollar supported by economic data The stern look of the Fed officials including the hope that Will see progress in the agreement to increase the debt ceiling of the United States. Keep an eye on the key factors next week. Exports in April Thai political situation and the outcome of negotiations to increase the debt ceiling of the United States
On May 21, 2023, Kasikorn Research Center Summary of the movement of the baht The baht touched the weakest level in almost a month at 34.50 baht per dollar. The baht strengthened to test the level of 33.70 baht per dollar. early in the week after the election In addition, there is a positive factor from Thailand’s 1Q23 GDP figure that came out better than the market expected. and the net buying power of foreign investors in the Thai bond market.
However, the baht reversed its depreciation for the rest of the week amid political uncertainty over Thailand’s government formation. and the net sell pressure of Thai stocks and bonds by foreign investors as well. In addition, Asian currencies as a whole weakened along with the yuan. Which was pressured by concerns about the prospects of economic recovery in China.
The baht continued to depreciate until the end of the week, in line with the direction of gold prices in the world market. while the dollar Supported by rising bond yields after US economic data It came out well and the Fed officials still have a strict control attitude. This reduces the likelihood that the Fed will cut the policy rate this year.
The dollar also strengthened amid hopes that Will see the progress of the negotiations to increase the US debt ceiling as well
We are financial advisors providing advice on risk management, wealth management, life insurance, life insurance, mutual fund investment. Both domestic and international debt instruments around the world Tax planning, insurance, with a team of professionals with a lot of experience that will lead you to success.
🏆Interested in working with us to prepare yourself to become a professional financial advisor immediately?💰:
T: 063-282-3651