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Baht Prints Worst Levels In Two Years

THB

Spot USD/THB has caught a bid this morning, as strong U.S. jobs data reported Friday have continued to lend support to the greenback. The rate changes hands +0.080 at THB33.438, printing best levels in two years.

  • Bulls look for a clean break above Jul 20 high of THB33.518, a pivotal topside target. Conversely, a pullback under Jul 29/20 lows of THB32.820/32.780 would give bears some reprieve.
  • Phuket authorities "Phuket Sandbox" pledged to make all-out efforts to restore confidence in the reopening project, following the murder of a Swiss tourist last week.
  • The Thai Chamber of Commerce and the Federation of Thai Industries will hold briefings on their sectoral confidence gauges.
  • The local data docket is empty this week, save for the usual weekly update on foreign reserves, due Friday.

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