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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessBaht Under Pressure As Greenback Outperforms, Budget Debate & BoP Data Eyed
Spot USD/THB trades +0.105 at THB34.182 as the greenback catches bid after a holiday. From a technical perspective, a firm push through May 26 high of THB34.350 would allow bulls to take aim at May 13 cycle high of THB34.783. On the downside, the key layer of support lies at THB34.018/34.000, which represent May 5 low/round figure.
- PM Prayuth is preparing for a busy political season. Parliament will begin the first reading of the FY2023 budget bill today, while the opposition is planning to submit a censure motion on June 15.
- Elsewhere, the Public Health Ministry will consider lowering its COVID-19 alert level in selected provinces to Level 2 this week.
- Thailand's BoP data hits today, ahead of the release of Business Sentiment Index on Wednesday.
- BoP current account balance is expected to have flipped into a deficit of $1.600bn in April from a surplus of $1.245bn recorded in March.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.