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Inflation Data Take Focus

THB

Spot USD/THB changes hands -0.010 at THB33.502 after trimming some losses. Bears look for a slide through Mar 31 low/100-DMA at THB33.195/33.170. On the flip side, Mar 28 peak (THB33.802) represents the initial bullish target.

  • Thailand's daily Covid-19 cases fell to 21,088, the lowest number since March 15.
  • The World Bank said that Thai economy should return to pre-pandemic levels by early 2023 driven by private consumption and tourism, although softening global demand will weigh on export growth.
  • Focus turns to monthly CPI data, due for release within an hour. Inflation is expected to have accelerated to +5.55% Y/Y in March, as per Bloomberg survey of analysts.

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