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Gov't Expects Recovery To Start In 1H2022

THB

Spot USD/THB trades -0.040 at THB33.162, with bears looking for a break below trendline support drawn off Aug 31 low/Jan 20 low at THB32.886/32.822. The next layer of support is provided by the 200-DMA/Nov 18 low at THB32.674/32.565. Bulls look for a jump above Jan 31 high of THB33.467 before targeting Jan 10 high of THB33.747.

  • Dep PM Supattanapong said the economy is expected to start recovering in 1H2022 owing to the government's stimulus measures, better control over Covid-19 and accelerated infrastructure development. The government's updated economic forecasts for this year will be published alongside Q42021 GDP data on Feb 21.
  • Thailand's Commerce Ministry will publish January CPI data on Friday, with headline inflation expected to have picked up to +2.47% Y/Y. The data will hit the wires ahead of next week's BoT monetary policy meeting.

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