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Baht Slips On Covid Worry

THB

Spot USD/THB has edged higher and last operates +0.048 at THB33.008. The initial layer of resistance is provided by Jan 10 high of THB33.747, followed by Dec 22 high of THB33.835. Conversely, a pullback under Jan 20 low of THB32.822 would open up the 200-DMA/Nov 18 low at THB32.596/32.565.

  • Thailand kept its Covid-19 alert level at the second highest last Friday, as officials warned against the looming flare-up in new infections.
  • Over the weekend, Energy Min Supattanapong noted that the state Oil Fund can afford to continue subsidising diesel prices through the end of March and sees no need to cut the excise tax on diesel.
  • The domestic economic data docket is virtually empty this week. Elsewhere, PM Prayuth chairs a Cabinet meeting today.

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