Free Trial

Baht Firms On Risk-On Impetus From Overnight

THB

Spot USD/THB trades -0.030 at THB38.053. Bears need a deeper sell-off past Oct 6 low of THB37.125, which would mark the completion of a short-term double top pattern and bring the 50-DMA (THB36.804) into view. Bullish focus falls on Oct 17/Sep 28 highs of THB38.283/38.450.

  • Foreign investors were net buyers of $11.02mn in Thai stocks Tuesday, the largest daily inflow in two weeks. The SET index posted a strong rally, adding ~1.2% on the day. The index is approaching resistance from Oct 6 high/100-DMA at 1,598/1,603. Offshore players also sold a net $75.17mn in Thai bonds yesterday.
  • A summit of APEC Finance Ministers kicks off in Bangkok today.

To read the full story

Close

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.