Free Trial

Baht Regains Poise

THB

Spot USD/THB trades -0.158 at THB32.530, likely pressured by Wednesday's comments from Fed Chair Powell, who backed a more measured 25bp rate hike in March. Bearish focus falls on THB32.088, which limited losses on Feb 18. On the flip side, a rally above the 200-DMA at THB32.794 would draw attention to Jan 20 low of THB32.822.

  • The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) said that economic growth is expected to contract 2.5% Y/Y this year, down from the earlier projection of +3.0%-4.5% Y/Y, with the upper bound of inflation seen at +3.0% Y/Y.
  • Thailand reported 23,618 new Covid-19 cases today, with 49 fatalities. The number of deaths was the highest since Nov 26.
  • Focus moves to monthly CPI data, due Friday.

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.