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Baht Extends Gains

THB

Spot USD/THB has extended its recent losses, last trades -0.010 at THB33.190, with little of note in the local headline flow. The baht has been the best performer in the Asia EM basket this week.

  • Bears look for a further sell-off past the floor of a bear channel drawn off Dec 3 high, which intersects at THB33.083. Bulls would be pleased by a rebound above the ceiling of that channel, today it kicks in at THB33.703.
  • Dep PM Supattanapong said Thursday that the gov't is looking into expediting the next phase of the "Khon La Khrueng" co-payment programme to stimulate consumer spending amid the outbreak of the Omicron coronavirus variant.
  • Looking ahead, Thailand's Customs Dept will publish monthly international trade data next Friday.

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