MNI BRIEF: China Visitor Mobile Payments Surge in H1

MNI China Daily Summary: Friday, July 26

MNI BRIEF: Foreign Firms Content In China

MNI BRIEF: Turkish Inflation Expectations Steady- TEBA

MNI China Press Digest July 26: Deposit Rates, Fiscal, PBOC

MNI: PBOC Net Injects CNY299.05 Bln via OMO Fri

MNI: BAKER HUGHES US RIG COUNT 589; OIL RIGS 482; GAS RIGS 101

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL JUL INDEX 66.4

EZ/UK Bond Supply Calendar: BoE Short APF Operation on Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Baht Plays Catch Up With USD Weakness, Higher Trade Surplus Also Helps

THB

The baht is sharply stronger in the first part of trade today. The currency is up over 1% against the USD. This puts us back near 36.11. Whilst part of this reflects catch up to USD weakness (as onshore markets were shut yesterday), the just released trade data has given the currency another lift.

  • Current USD/THB levels put us back close to October lows in the pair. We are back sub the 20-day EMA (near 36.39), while the 50-day is just under 36.00.
  • The customs trade data showed an upside surprise for exports (+2.10%y/y, versus -1.75% forecast), while imports were weaker than expected (-8.3% y/y, versus -5.55% forecast). This result saw a healthy trade surplus delivered of just over $2bn ($400mn was the forecast).
  • The surplus is still sub earlier 2023 highs, but a better than expected export result is consistent with what other Asian currencies have delivered so far this month.
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

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.