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Bear Leg Extends




August Economic Activity Rises 1.1% M/m


It has been a calm reopen for spot USD/THB, which sits within touching distance from where it wrapped up on Monday. The rate changes hands at THB31.188 as we type.

  • Bearish focus falls on Jun 2 low of THB31.130 and a break here would give a signal for targeting May 10 low of THB31.048. Meanwhile, a move through Jun 4 high of THB31.275 would expose THB31.510, which represents May 18 peak.
  • Thailand achieved the target of administering more than 300,000 doses of a Covid-19 vaccine on the first day of its mass inoculation drive. AstraZeneca & Sinovac products were used as the country began its vaccination campaign on Monday.
  • Chiang Mai officials wants to emulate Phuket's reopening model a month after the resort island welcomes foreign tourists on Jul 1, the Bangkok Post reported. Meanwhile, Thai Airways confirmed that they will restart flights into Phuket once the island reopens.
  • PM Prayuth chairs the weekly cabinet meeting today. Later in the week, the consumer confidence gauge from the University of the Thai Chamber of Commerce will be released on Thursday, with the latest update on the BoT's foreign reserves coming up Friday.
MNI London Bureau | +44 203-865-3806 |
MNI London Bureau | +44 203-865-3806 |