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Baht Treads Water Ahead Of Long Weekend


Spot USD/THB has been steady in thin Asia-Pac trade and last trades unch. at THB29.920. Headline flow has been muted owing to the Lunar New Year holidays.

  • The BoT said it plans to hold an online debt mediation fair for credit card and personal loan debtors, starting from Feb 14. Participants will be able to get better terms of payment.
  • A move through Feb 1 low of THB29.888 would encourage bears to take aim at Jan 4 & 5 lows of THB29.840. On the topside, a break above the 50-DMA at THB30.040 would expose Feb 5 high of THB30.132.
  • Local markets will be closed for a public holiday tomorrow. Focus turns to Thailand's GDP data, due next Monday.

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