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USDCAD TECHS

Remains Above The 50-Day EMA

AUDUSD TECHS

Resumes Its Downtrend

EURJPY TECHS

Corrective Cycle Still In Play

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Baht Sales Continue

THB

Spot USD/THB remains on an uptrend, hitting new cycle highs as we type. It last trades +0.093 at THB34.713, with bulls setting their sights on May 11, 2017 high of THB34.815. Bears would breathe a sigh of relief if the rate pulled back under May 5 low/round figure of THB34.018/34.000.

  • FinMin Arkhom warned that Thailand's economic recovery "may not be fast" even with growing exports, as the tourism sector needs time to return to normal. He added that the government will try to avoid creating too much fiscal burden.
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Spot USD/THB remains on an uptrend, hitting new cycle highs as we type. It last trades +0.093 at THB34.713, with bulls setting their sights on May 11, 2017 high of THB34.815. Bears would breathe a sigh of relief if the rate pulled back under May 5 low/round figure of THB34.018/34.000.

  • FinMin Arkhom warned that Thailand's economic recovery "may not be fast" even with growing exports, as the tourism sector needs time to return to normal. He added that the government will try to avoid creating too much fiscal burden.