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Baht Trades Flat, Revenue Collections Top Target

THB
BulletEM BulletEmerging Markets

Spot USD/THB trades flat at THB34.230 at typing. From a technical point of view, a fall through May 24 low of THB34.090 would allow bears to target May 5 low/round figure of THB34.018/34.000, a key layer of support. Bulls need a break above May 13 high of THB34.783 to confirm the resumption of the uptrend.

  • According to the latest update from Thailand's Fiscal Policy Office, revenue collection in the first 7 months of the year surpassed the target by 3.7%, on the back of ongoing economic recovery and the growth in imported products.
  • The Public Health Ministry clarified that the mask mandate will be lifted next month only in certain designated areas. Meanwhile, the government reclassified monkeypox to a status warranting closer surveillance by health officials.
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Spot USD/THB trades flat at THB34.230 at typing. From a technical point of view, a fall through May 24 low of THB34.090 would allow bears to target May 5 low/round figure of THB34.018/34.000, a key layer of support. Bulls need a break above May 13 high of THB34.783 to confirm the resumption of the uptrend.

  • According to the latest update from Thailand's Fiscal Policy Office, revenue collection in the first 7 months of the year surpassed the target by 3.7%, on the back of ongoing economic recovery and the growth in imported products.
  • The Public Health Ministry clarified that the mask mandate will be lifted next month only in certain designated areas. Meanwhile, the government reclassified monkeypox to a status warranting closer surveillance by health officials.