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Free AccessBaht Goes Offered During Brief Pause In Local Holiday Break
Spot USD/THB re-opened on a firmer footing as Thailand briefly returns from a public holiday, before observing another market closure on Wednesday. The rate last changes hands +0.190 at THB34.443.
- Bulls set their sights on Apr 28 high of THB34.480, with the next layer of resistance provided by May 11, 2017 high of THB34.815. Bears need a retreat under the THB34.000 figure to get some reprieve.
- J.P. Morgan on Monday downgraded Thailand's equities rating to "neutral" from "overweight", citing the renewed outbreak of Covid-19 in China and the slow pace of recovery in Thailand's tourism industry.
- Thailand declared 9,721 Covid-19 cases today, while daily fatalities fell to 77, the lowest level since Mar 26.
- The Bank of Thailand will release its Business Sentiment Index today, with consumer confidence data coming up later this week. The main focus, however, will fall on Thursday's monthly CPI report.
- Reminder that the Thai Cabinet holds its weekly meeting today.
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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.