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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
THB
Positive spillover from Thai stock market has helped USD/THB ease off this morning, with the pair last sitting -0.065 at THB37.305. A retreat under the 50-DMA (THB36.334) is needed to inspire hopes for a deeper sell-off. Bulls see yesterday's high of THB37.448 for initial resistance, followed by Sep 19, 2006 high of THB37.951.
- Thursday saw the largest net daily equity inflow this month, as foreign investors snapped up a net $61.71mn in local stocks, challenging the recent downtrend. The SET index added ~0.7% as its 50-DMA crossed above the 100-DMA.
- Acting PM Prawit sought to reassure markets that the government will not meddle with the central bank days after he expressed concern about the baht's recent slump and said that the MoF will speak with the BoT soon. Prawit now clarified that he had instructed FinMin Arkhom to "only talk" with the BoT about currency matters, while Arkhom noted that he didn't issue any directives to BoT officials during Thursday's talks.
- Thailand loosened its COVID-19 rules again in a move intended to support the recovery of domestic tourism industry. From October 1, foreign visitors will no longer be required to show vaccination/test certificates on arrival. The main COVID-19 panel meets today and may end the emergency decree to control the pandemic.
Fig. 1: Thailand Stock Exchange Foreign Investors Net Flows ($mn) vs. SET Index
Source: MNI - Market News/Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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