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Baht Treads Water, Thai Cabinet To Meet Today

THB

Spot USD/THB trades -0.007 at THB32.903 amid limited local headline flow. Bears look for a retreat under Sep 10 low of THB32.618 towards Sep 6 low of THB32.333. Meanwhile, gains past Aug 24 high of PHP33.318 would give bulls a green light for targeting a key layer of resistance around THB33.500.

  • PM Prayuth brushed away rumours about his alleged conflict with his deputy and ruling PPRP party leader Prawit and denied that he wants to take over PPRP leadership. The rumours emerged after Prayuth sacked two junior ministers who were Prawit's close allies and were accused of plotting to unseat the Premier.
  • BoT Gov Sethaput addressed the issue of mounting household debt, noting that it should be tackled using digital technology, which could also make it easier for SMEs to access loans.
  • It's Tuesday, so Thailand's ministers convene for their weekly meeting. Later today, FinMin Arkhom will speak on "new road to capital market".

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