Tuesday, September 29, 2020

Thai Q2 GDP, US-China talks outcome key factors in moving the baht next week

Aug 15. 2020
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By THE NATION

Kasikornbank expected the baht to move between 30.80 to 31.20 next week and advised investors to monitor Thailand's gross domestic product of the second quarter, US and China actions after their discussions on Saturday (August 15), and the Covid-19 situation around the world.

The economic numbers to be announced next week include the US housing market index, economic trend this month surveyed by the Fed – Philadelphia and US second-hand house sales in July.

This week the baht strengthened slightly, while the dollar weakened amid the US- China tensions. Moreover, the dollar was sold due to instability in US Covid-19 remedial measures.

On Friday (August 14), the baht closed at 31.13, strengthening from 31.15 the previous Friday.

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