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Baht Firms Ahead Of Consumer Sentiment Data, BoT Minutes/MPR

THB

Spot USD/THB changes hands -0.050 at THB38.118 at typing, with plenty of local risk ahead of a public holiday in Thailand. A sell-off past Oct 6 low of THB37.125 would give bears a green light for targeting the 50-DMA at THB36.674. Bulls look for a break above Sep 28 cycle high of THB38.450.

  • Foreign investors sold a net $9.58mn in Thai stocks Tuesday, while the SET index shed 0.5% come the end of play, stopping short of testing the 76.4% retracement of the Jul - Sep rally.
  • The BoT said Tuesday that it expects headline inflation to return to the +1.0%-3.0% Y/Y target range by mid-2023 and average at +3.9% over the next 12 months.
  • The results of its consumer confidence survey from the University of the Thai Chamber of Commerce will be out today, while the BoT will publish the minutes from its Sep 28 monetary policy meeting, as well as the quarterly Monetary Policy Report. The release of weekly foreign reserves data has been brought forward to this afternoon as Thailand is set to observe public holidays during the remainder of the week.
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