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Equity Inflows Support Baht, 50-DMA Gives Way

THB

Spot USD/THB has sold off and last changes hands -0.152 at THB37.270 after breaking below its 50-DMA for the first time since late August, with a bearish failure swing unfolding on the RSI chart. Bears now look for a drop past Oct 6 low of THB37.125, while bulls eye Oct 20 high of THB38.465 for initial resistance.

  • Foreign investors snapped up a net $63.34mn in Thai stocks Monday, extending the streak of daily inflows going back to Oct 20. The SET index gave back its initial gains after re-testing its 200-DMA.
  • Yesterday's CPI figures were broadly in line with expectations, with CPI inflation printing at +5.98% Y/Y (est. +6.00%) and core CPI coming in at +3.17% Y/Y (est. +3.20%).
  • PM Prayuth chairs the weekly Cabinet meeting today. Elsewhere, Thailand's consumer confidence data will cross the wires on Thursday.
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