Free Trial

Baht Lags Asian Peers Despite Thailand's Lower Covid-19 Case Count

THB

Spot USD/THB has extended gains this morning, despite a further easing in Thailand's Covid-19 case count, and last trades +0.040 at THB33.383. The baht remains the worst performer in Asia this week.

  • Bulls set their sights on THB33.500, a key layer of resistance which capped gains in August. Conversely, bears look for a pullback under the 50-DMA at THB32.928 towards Sep 15 low of THB32.850.
  • FinMin Arkhom announced Monday that Thailand will raise its cap on debt-to-GDP ratio to 70% from 60%, without outlining any specific timeframe for implementing the reform.
  • Thailand declared 10,919 new Covid-19 cases today, the smallest daily case count since Jul 17.
  • PM Prayuth chairs the weekly Cabinet meeting today. Looking further afield, Thailand's Customs Department will publish their latest trade report on Thursday.

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.