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(M2) Correction Extends


Late Session Rebound


(M2) Corrective Cycle Remains In Play


(M2) Gains Still Considered Corrective

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Overnight greenback purchases have generated a tailwind for spot USD/THB in early trade. The pair last operates +0.110 at THB32.995, with bulls looking to take out Jan 10 high of THB33.747, before targeting Dec 22 high of THB33.835. On the downside, a retreat under yesterday's two-month low of THB32.822 would bring Nov 18 low of THB32.565 into play.

  • PM Prayuth clarified Thursday that he has no plans to reshuffle his Cabinet or call a snap election after the ouster of rebel MPs from the ruling Palang Pracharath Party (PPRP). Prayuth dubbed the expulsion of PPRP Secretary General Thamanat and 20 other lawmakers as an internal affair, although it is known that the two had a tense relationship.
  • Elsewhere, the Premier ordered government agencies to keep caps on diesel and cooking gas for "as long as possible."
  • The Prime Minister chairs a meeting of an economic panel to discuss ways to mitigate the impact from the Covid-19 pandemic.
  • Thailand's Customs Department will publish December trade data later today. Next week's docket provides little of note.
MNI London Bureau | +44 203-865-3806 |
MNI London Bureau | +44 203-865-3806 |

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