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Covid-19 Death Count Falls, BoT MonPol Decision Eyed This Week

THB

Spot USD/THB trades -0.190 at THB33.130 after Thailand logged fewest deaths from Covid-19 in several months. Bears need to see the pair slide through Oct 26 low of THB32.985 before taking aim at the 100-DMA at THB32.887. Meanwhile, a rally above Oct 18 high of THB33.488 would turn focus to Oct 6 high/round figure of THB33.990/34.000.

  • Thailand reported 7,592 new Covid-19 infections today, with 39 fatalities. Daily death count fell to its lowest point since Jun 29.
  • The BoT will deliver their monetary policy decision on Wednesday, but most analysts expect another uneventful MPC gathering, with the benchmark interest rate set to remain on hold.
  • It may be worth paying attention to the industries sentiment index from Thai Industries, due for release later today.

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