By THE NATION
The Thai currency is expected to move between 31.10 and 31.30, said Jitipol Puksamatanan, head of Markets Strategy at SCB Securities.
On Monday night, the market was in a risk-on state, supported by technology company stocks, while returns on bonds around the world were low.
The S&P 500 Index rose by 0.7 per cent, while Stoxx Europe 600 closed positively by 2 per cent from the weakened euro. This market situation pressured the gold price to $1,973 per ounce.
In the short term, the market will wait for new US financial policies after the bid to offer $600 a week ended last week.
In the financial market, the dollar strengthened by 0.3 per cent, compared to other main currencies, after the ISM manufacturing and non-manufacturing purchase managers index showed recovery. Also, the market was worried about the Covid-19 situation in European countries.
This week, the strategist advised investors to monitor the recovery of stock markets worldwide. The risk-on market would support the baht and other Asian currencies, he explained.