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Baht On Defensive, Budget Debate Set To Resume

THB

Spot USD/THB trades +0.080 at THB36.145 with pre-Jackson Hole Fed musings in the driving seat. Bulls look for an attack on THB36.945, a cycle high printed on Jul 21. Bears keep an eye on Aug 11 low of THB35.160.

  • Foreign investors kept buying Thai stocks on Monday, net inflows were $45.5bn. The SET index retreated for the third consecutive day.
  • Thailand's tourism arrivals were 1.124mn last month, according to an update from the Ministry of Tourism and Sports. Malaysian visitors topped the list.
  • The government has budgeted a further THB8bn to subsidise electricity bills from September to December to ease pressure on small users.
  • PM Prayuth chairs weekly Cabinet meeting today, while parliament resumes second reading of the 2023 budget bill. Elsewhere, BoT Gov Sethaput speaks on sustainable development.
  • Looking further afield, Thailand's Customs Dept will publish monthly trade data tomorrow.

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