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Baht Dips On Regional Reaction To Above-Forecast U.S. Jobs Data


Spot USD/THB jumped at the re-open as Asian participants digest a strong U.S. NFP report from last Friday, which fanned hawkish Fed expectations. The pair last deals +0.305 at THB37.702, with local headline flow offering little of real note.

  • From a technical standpoint, bulls set their sights on Sep 28 cyclical high of THB38.450. Conversely, bears look for a retreat past Oct 6 low of THB37.125, followed by the 50-DMA at THB36.587.
  • Foreign investors sold a net $82.08mn in Thai equities last Friday, which was the largest outflow since Sep 15. The SET index fell 0.60% come the closing bell.
  • The Thai Bond Market Association will hold a briefing on Q3 bond market situation this morning.
  • Look further afield, the University of the Thai Chamber of Commerce will publish the results of its consumer confidence survey on Wednesday.

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