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Baht may react to speculation in Asia if US, EU economies sputter

Nov 30. 2020
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By THE NATION

The baht opened at 30.31 to the US dollar on Monday, weakening from 30.28 at close on Friday.
The Thai currency is likely to move between 30.20 and 30.40 on Monday and between 30 to 30.50 this week, said Jitipol Puksamatanan, senior director of the chief investment office at SCB Securities.

Jitipol advised investors to monitor investment direction at the end of this year.

He also predicted that there would be speculation in the Asian region, if the market sees that the US or EU economy is not recovering at a reliable rate.

Jitipol expected the market this week to move in a narrow range, while the US ISM Manufacturing purchase managers index will be announced on Tuesday.

Moreover, the US ADP Employment report is scheduled to be announced on Wednesday and Thursday.

On Friday, Thailand's consumer price index and the US Nonfarm Payrolls would be revealed.

In addition, the dollar index this week will move between 91 and 93 points, from the present 91.8 points.

 

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