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Baht Prints One-Week Low After Local Holiday

THB

Thai markets re-open after a public holiday. Spot USD/THB printed a new one-week high this morning, trimmed some gains, and last trades +0.132 at THB33.548. The next topside target is provided by THB33.802, the high print of Mar 28. Conversely, bears would be pleased by sales past Mar 31 low/100-DMA at THB33.195/33.177.

  • Reminder that the University of the Thai Chamber of Commerce will release consumer confidence data for the month of March tomorrow. In February, sentiment among Thai consumers soured to worst levels in five months.
  • The Bangkok Post cited local political experts speculating that the main opposition Pheu Thai Party is likely to garner the largest proportion of votes in the next general election, but this would not guarantee the ability to form government.

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