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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
Spot USD/THB moved higher as onshore baht reopened, digesting the news that Thailand mulls the implementation of mobility restrictions in some regions. The rate last sits +0.155 at THB32.637, after topping out at THB32.660, its highest point since Apr 16, 2020.
- Thailand's Covid-19 task force will consider Health Ministry's proposal to implement a partial lockdown in regions most affected by the latest outbreak. These include Bangkok Metropolitan Area, which is home to 10mn people and contributes 45% to the Thai GDP. The proposal will be discussed during today's meeting of the Covid-19 panel chaired by PM Prayuth at 1000ICT/0400BST.
- The Chairman of the Thai Chamber of Commerce said that another nationwide lockdown would be unbearable and pushed for targeted restrictions coupled with efforts to accelerate the vaccination drive.
- The BoT wil provide the weekly update on its foreign reserves today, with the next one providing the sole point of note on Thailand's data docket for next week.
- A break above Apr 14, 2020 high of THB32.792 would give bulls a green light for targeting THB33.177, which represents the high print of Apr 2, 2020 and a key resistance level. Bears look for a pullback under Jun 25 low of THB31.740.
Fig. 1: Thailand Daily Confirmed Covid-19 Cases
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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