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Improvement In Equity Flow Dynamics Supports Baht

THB

Spot USD/THB operates -0.272 at THB38.025, with bears looking for losses towards Oct 6 low of THB37.125, which would mark the completion of a double top pattern. Bulls need to force their way through Oct 20 high of THB38.465 before targeting a more aggressive rally.

  • Foreign investors bought a net $59.85mn in Thai stocks Tuesday, while the SET index had a look above its 100-DMA for the first time this month. The past week has seen a slight recovery in foreign demand for Thai equities, with YtD net inflows last seen at $4.471bn.
  • Monthly customs-based trade data are expected to cross the wires this afternoon. The deficit may have shrunk to $3.050bn in September from $4.215bn prior.

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