Markets eagerly await result of US-China talks this week

The Thai currency is expected to move between 31.03 to 31.23 on Tuesday, said Jitipol Puksamatanan, head of Markets Strategy at SCB Securities.
On Monday night (Thailand tome), the S&P 500 rose by 0.3 per cent, in line with the WTI oil price that rose by 2 per cent. Investors expected that US economic policies will help increase the oil price within this month.
In the bond market, the US Ten-Year Treasury yield would rise continually. Its present level was 0.58 per cent, supporting the Thai Treasury to 1.26 per cent.
Moreover, the slight decrease in gold price strengthened the dollar by around 0.3 or 0.4 per cent, compared to other currencies, the analyst said.
In Thailand, the baht moved in a wide range, with additional, positive factors, namely, economic cycle, recovered oil price, and foreign exchange reserves.
The strategist said that the market’s view would be more positive to Asian currencies, if there were good news from the US and China trade discussion this Saturday (August 15).