Covid Flare-Up Kills Songkran Joy

Spot USD/THB re-opened on a firmer footing, hitting best levels since Oct 5. The pair changes hands +0.092 at THB31.515, with bulls looking for a break above Sep 28 high of THB31.745, followed by Jul 20 high of THB31.858. Bears look for a pullback under Apr 1 & 2 lows of THB31.198.

• Thailand's daily Covid-19 case count surged to a new record on Sunday, as the country declared 967 new infections. Analysts have expressed concerns that the flare-up in infections could detail Thailand's re-opening plans, which include loosening border restrictions.
• Dep Director-General of the Dept of Disease Control said that their modelling suggests that in the absence of any disease control measures as many as 28,678 could contract coronavirus every day during the current spike.
• The three-day Songkran festival begins tomorrow. The festive period typically sees millions of people travel across the country. 43.88% of the Suan Dusit Poll circulated by the Bangkok Post said they will not take part in locally organised activities, while 33.31% were not certain.
• Looking ahead, the BoT will release the weekly update on foreign reserves on Friday.