Free Trial

DOLLAR-THB : USD/THB has added 7 pips and last.......>

DOLLAR-THB
DOLLAR-THB : USD/THB has added 7 pips and last trades at  THB31.23. Apple's
warning re: impact of the Covid-19 outbreak on its earnings provided a modest
tailwind to the pair as participants shied away from riskier assets. 
- BoT Gov Veerathai said that the central bank will review its 2020 growth
forecast next month, considering the impact of the novel coronavirus. The BoT
currently expects the economy to grow 2.8% Y/Y. At the same time, the Governor
has welcomed measures taken by the gov't & the passage of a delayed budget bill.
- Thailand's senior health off'l said that the rate of coronavirus spread has
been slowing amid limited local transmission. The number of confirmed cases
remains at 25, with one additional person discharged.
- Bulls eye THB31.29/30, the 61.8% retracement of the Apr 25 - Dec 20 slide/Feb
7 high as a break here would give them fresh momentum. For bears, a fall below
THB31.12, which has limited losses recently, would be a step towards challenging
the Feb 6 low & 23.6% retracement of the Dec 30 - Feb 7 rally at THB30.98.
- Friday's weekly update on foreign reserves is the sole noteworthy data release
out of Thailand during the remainder of this week.

To read the full story

Close

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.