Recovery in Asian stock markets expected to strengthen baht

The Thai currency is expected to move at between Bt32.00 and Bt32.20 to the dollar on Friday, SCB Securities senior market strategist Jitipol Puksamatanan said.
On Thursday night, the S&P 500 was up by 1.15 per cent. The US Ten-Year Treasury yield was traded at 0.62 per cent, reflecting that investors were not ready for risk due to their concerns about the future economic situation.
The US initial jobless claims this week was 2.98 million, or a total of over 36 million people within two months. He said this level of unemployment was temporary, but it is possible that the unemployment rate in the US would be over 6 per cent.
Gold price rose to $1,730 per ounce, while crude oil price increased to $31.1 per barrel. The yen weakened to ¥107.4 per dollar.
The baht has moved in a wide range in the short term, and its main factor recently was the stock market situation and trading in the bond market before the Monetary Policy Committee meeting next week. On Friday, we estimate that the baht would strengthen in line with the recovering Asian stock market.