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Baht Firms Ahead Of Local GDP Data, Cabinet Meeting

THB
BulletEM BulletEmerging Markets

Spot USD/THB started the session on a softer footing and last deals -0.100 at THB34.682 in the wake of Monday's public holiday in Thailand. Bears look for further sales towards May 5/round figure lows of THB34.018/34.000. Meanwhile, a rebound above May 13 high of THB34.783 would confirm that bullish momentum is intact, turning technical focus to May 11, 2017 high of THB34.815.

  • The campaign for Bangkok governor is entering the final stretch, with residents of the capital set to cast their ballots on Sunday. Opinion polls suggest that Former Transport Minister Chadchat Sittipunt remains well ahead his rivals, with most respondents declaring that would not change their choice.
  • The Tourism Authority of Thailand "aims to tally 40-50mn domestic trips in Q2, which will help secure 80mn trips in the first six months and keep the goal for the whole year of 160mn trips in sights."
  • Today's quarterly GDP report is expected to show that the economy grew 1.7% Y/Y in Q1, according to Bloomberg consensus forecast. The data will be accompanied by revised 2022 economic forecasts from the National Economic and Social Development Council (NESDC).
  • PM Prayuth holds a weekly Cabinet meeting today, with ministers expected to discuss the proposed extension to the diesel tax cut.
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Spot USD/THB started the session on a softer footing and last deals -0.100 at THB34.682 in the wake of Monday's public holiday in Thailand. Bears look for further sales towards May 5/round figure lows of THB34.018/34.000. Meanwhile, a rebound above May 13 high of THB34.783 would confirm that bullish momentum is intact, turning technical focus to May 11, 2017 high of THB34.815.

  • The campaign for Bangkok governor is entering the final stretch, with residents of the capital set to cast their ballots on Sunday. Opinion polls suggest that Former Transport Minister Chadchat Sittipunt remains well ahead his rivals, with most respondents declaring that would not change their choice.
  • The Tourism Authority of Thailand "aims to tally 40-50mn domestic trips in Q2, which will help secure 80mn trips in the first six months and keep the goal for the whole year of 160mn trips in sights."
  • Today's quarterly GDP report is expected to show that the economy grew 1.7% Y/Y in Q1, according to Bloomberg consensus forecast. The data will be accompanied by revised 2022 economic forecasts from the National Economic and Social Development Council (NESDC).
  • PM Prayuth holds a weekly Cabinet meeting today, with ministers expected to discuss the proposed extension to the diesel tax cut.