Covid-19, US stimulus package could influence baht, SET next week
The Covid-19 outbreak and the rollout of US economic stimulus measures would affect the baht and the Stock Exchange of Thailand (SET) Index next week, Kasikorn Research Centre (KResearch) said.
The baht closed at 30.09 against the dollar on Friday despite the Monetary Policy Committee's resolution to maintain the interest rate at 0.50 per cent. However, the baht was pressured by the strengthening dollar amid strong US economic data and US President Joe Biden's signal to accelerate the rollout of economic stimulus measures and Covid-19 vaccination.
KResearch expected the baht next week to move between 29.90 and 30.30 to the dollar, advising investors to follow the rollout of US economic stimulus measures, the US Federal Reserve chairman's statement and the Covid-19 outbreak.
The SET Index on Friday closed at 1,496.61, up 2.02 per cent compared to the previous week's close with total transactions amounting to Bt78.30 billion, down 10.557 per cent compared to the previous week's close, riding strong US economic data which was better than the market expectations.
The Market for Alternative Investment on Friday closed at 369.95, up 3.82 per cent compared to previous week's close.
KResearch advised investors to follow the Covid-19 outbreak, SET-listed companies' fourth-quarter performance in 2020, the rollout of US economic stimulus measures and US-China relations.