Assessing Coronavirus Situation

Spot USD/THB operates within a familiar range, last sits +0.025 at THB31.290. A rally past Apr 12 high of THB31.575 is needed to reinstate broader bullish momentum. Bears look for a slide through Apr 19 low of THB31.173 before targeting Mar 26 low of THB31.060.

• PM Prayuth said that Thailand is in talks with Pfizer to secure the supply of additional 10mn doses of the Covid-19 vaccine, possibly between Jul & the year-end. Pricing deal is yet to be reached.
• Elsewhere, gov't spokesman Traisuree said that the cabinet has approved an extension of a co-payment subsidy scheme through Jun, while boosting its budget by THB3bn.
• The PM threw his weight behind the national inoculation campaign, refusing to admit that its pace has been to slow and insisting that the gov't has prioritised the safety of jab recipients.
• Health Ministry considers taking legal action against a number of Covid-19 patients who refused to be transferred to field hospitals and opted to stay at home instead.
• Thailand's Customs Dept will publish trade data for the month of Mar on Friday. Trade balance is expected to widen to $800mn, per the BBG survey. Also on Friday, The BoT will release its weekly update on foreign reserves.