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OIL

WTI Topples $75/bbl Handle

INDIA

Issuance Plan Eyed

FOREX

Commodity Related Currencies Bid

EQUITIES

Positive Start

KOREA RATES

5-Year Auction Results

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J.P.Morgan note that their "short-term measure currently places the fair value of USD/THB at THB32.50. The baht was estimated to be 8.7% overvalued in February when USD/THB was clinging to the THB30-handle even as the modified balance worsened due to fading effects of prior deposit and loan inflow. But since then a spectacular rally in USD/THB has seen this overvaluation close. Looking ahead we expect USD/THB to consolidate around current levels."

  • "The tourism recovery has been delayed by the delta wave in Thailand and hurdles to the vaccination drive. Exceptional inflows from onshoring of deposits and external borrowing seen in 2020 are unlikely to repeat. The BoT is unlikely to support THB, as it had been concerned with baht strength prior to the recent weakness, and the economy could use some help."