Baht to be influenced by direction of Asian stock markets, US data

The Thai currency would move between Bt30.93 and Bt31.13 on Monday, Jitipol Puksamatanan, head of markets strategy at SCB Securities, said.
On Monday night, the S&P500 fell 0.2 per cent, while Stoxx Europe 600 was down by 0.6 per cent. This market situation was caused by investors’ concerns about economic recovery, as the Covid-19 crisis has not been solved.
The market situation also pressured the WTI crude oil price to decrease by 0.4 per cent to $42.8 per barrel.
At the same time, gold price rose by 0.2 per cent to $1,969 per ounce. The strategist added that total purchase of gold via exchange-traded funds was lower than the time when the Covid-19 crisis started.
The US Ten-Year Treasury yield stayed at 0.72 per cent, and the euro was at $1.19.
In Thailand, the baht would weaken if Asian stock markets shrank. However, the strategist advised investors to monitor US economic numbers to be announced this week.