US jobless claims report may determine baht's trend

The baht is expected to move between 32.35 and 32.55 to the dollar on Thursday, SCB Securities senior market strategist Jitipol Puksamatanan said.
On Wednesday night, the S&P 500 and Euro Stoxx 600 fell by 0.7 per cent and 0.3 per cent, respectively.
ADP National Employment Report informed that unemployment in the private sector had reached 20.2 million. The strategist advised investors to monitor the US initial jobless claims.
In the bond market, bond yields in numerous countries grew. The US Ten-Year Treasury yield increased by 4 basis points to 0.71 per cent, while the German and Italian yields grew to minus 0.51 per cent and 1.97 per cent, respectively.
In the next phase, the strategist said the markets would be concerned about European political issues and default of debt payment in emerging market economies.
Overall the markets are positive about the US dollar, strengthening the currency by 0.4 per cent, compared to other main currencies.
The baht has been traded in a narrow range and would continue at the present level until the latest US initial jobless claims is announced, the analyst said.