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Baht Prints Fresh Cycle Lows, Gov't May Limit Diesel Subsidies

THB

Spot USD/THB trades +0.095 at THB33.840 after printing best levels in more than four months. Bulls eye THB33.990 for resistance, a level which capped gains on Oct 6 & Dec 3 last year. Bears look for a retreat towards the 100-DMA/Mar 31 low at THB33.222/33.195.

  • Energy Min Supattanapong noted that the government may keep its diesel subsidy programme in place beyond April but its size would be reduced.
  • The Customs Dept will publish March trade data this Friday, with trade balance expected to have flipped into a deficit.

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