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Eyes On Potential Fallout From PPRP Leadership Meeting

THB

Spot USD/THB operates -0.037 at THB33.327 as we type, holding a narrow range so far. Bears need a sell-off past Oct 26 low of THB32.985 before taking aim at Sep 15 low of THB32.850. On the flip side, a jump above Oct 18 high of THB33.488 would turn focus to Oct 6 high/round figure of THB33.990/34.000.

  • Tensions within the ruling camp remain evident, with talk of a potential reshuffle of PPRP executive board doing the round. The Bangkok Post suggested that SecGen Thamanat could lose his post, as party leadership holds a meeting today.
  • The Tourism Authority of Thailand estimated that about 300,000 foreign travellers may visit Bangkok in each of the next two months, with officials trying to work out measures to reduce the risk of Covid-19 resurgence.
  • The local economic docket is fairly empty today, with BoP current account balance & trade balance coming up tomorrow.

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