Saturday, January 16, 2021

Baht strengthens a tad

Dec 03. 2020
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The baht opened at 30.21 to the US dollar on Thursday, strengthening from 30.25 at close on Wednesday.
The Thai currency is likely to move between 30.10 and 30.30, said Jitipol Puksamatanan, senior director of the chief investment office at SCB Securities.
On the Wednesday night, the S&P 500 Index increased by 0.2 per cent due to strong performance by energy stocks, after the price of WTI crude oil rose by 1.4 per cent.
Meanwhile, the Stoxx 600 Index decreased by 0.1 per cent after sales of some profitable stocks, which grew last month.
Moreover, the US ADP report said employment in private organisations in November rose by 307,000 positions, but this showed that companies are still concerned about the economic situation next year. However, most firms believed the US government would launch a stimulus package by the end of this year, the report added.
In the financial market, the dollar weakened by 0.1 per cent, while the US Ten-Year Treasury yield rose by 2.5 basis points to 0.95 per cent, the highest so far this week.
Jitipol said most currency investors decided to hold main currencies, such as the Japanese yen, Australian dollar or Swiss franc.
In Thailand, the baht continued to move in a narrow range. Investors are watching the direction of the currency exchange policy as well as capital flows, he added.

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