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Expansion In M'fing Sector Slows, Daily Covid-19 Cases Hit New Record

THB

Spot USD/THB trades +0.073 at THB33.330 at typing. Bulls see Mar 28 high of THB33.802 as their initial target, while bears look for a fall through Mar 31 low of THB33.195 towards the THB33.000 figure which limited losses on Mar 10. Note that this week saw the pair's 50-DMA move below the 200-DMA.

  • Daily Covid-19 cases surged to a new record high of 28,379, with 92 fatal cases, the most during the current wave.
  • Thailand's S&P Global M'fing PMI fell to 51.8 last month from 52.5 prior, indicating a slower rate of expansion, albeit "overall business confidence improved in Thailand." Worth noting that the BoT will release its Business Sentiment Index later today.
  • Next week's highlights include CPI (Tuesday) and Consumer Confidence Index (Friday).
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