DOLLAR-THB : USD/THB sticks to a familiar range,.....>

DOLLAR-THB : USD/THB sticks to a familiar range, last trades unch. at THB31.15.

Riskier assets have been supported by China's pledge to cut corporate taxes &

limit unnecessary gov't expenditure to prop up the coronavirus-hit economy, as

well as upbeat comments from Wuhan hospital head from over the weekend. That

being said, the baht has been limited by concerns over Thailand's slowing GDP

growth. The country reported GDP figures for Q4, with expansion slowing more

than expected to +1.6% Y/Y from +2.6% in Q4, and with the 2019 growth

registering at +2.4% Y/Y (five-year low). Thailand lowered its growth outlook

and now sees the economy expanding 1.5-2.5% Y/Y rather than 2.7-3.7% this year.

- Thailand auctioned permits for 5G services on Sunday, raising some THB100bn,

that is THB30bn more than expected by the national telecoms agency.

- An econ off'l said that the Covid-19 outbreak will trim the no. of foreign

tourists this year by 2.8mn, given that it peaks in March & ends in May.

- A fall below THB31.12, which has limited losses recently, would open the Feb 6

low & 23.6% retracement of the Dec 30 - Feb 7 rally at THB30.98. Bulls eye

THB31.29/30, the 61.8% retracement of the Apr 25 - Dec 20 slide/Feb 7 high.