Baht weakens

The baht will move between 32.40 and 32.60 per US dollar, said Jitipol Puksamatanan, SCB Securities senior market strategist.
He said the price of WTI crude oil closed at $-37.63 per barrel, since  investors were concerned about US oil storage and production.
This has pressured the US stock market to contract by 1.79 per cent, while Ten-Year Treasury bonds decreased by 0.60 per cent. Italy’s bond yields grew 1.93 per cent, or by 14 basis points. 
The decreased oil price is positively affecting the US dollar. The Canadian dollar fell by 0.88 per cent while the Russian rouble and Brazilian real contracted by 2.06 per cent and 1.54 per cent from Friday’s closing price. 
Jitipol said investment in Asian currencies and the baht would be pressured by the decreased oil price.
However, this would be a positive factor for Thai GDP in the short term, since it could cause a trade surplus.