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On Lookout For Customs Trade Data

THB

Spot USD/THB popped higher in early trade but has shed these gains since. It last trades flat at THB35.310. Bulls look for a jump above Jun 24 cycle high of THB35.573, which would bring Jan 9 high of THB35.799 into view. Bears need a retreat under Jun 16 low of THB34.830 to get some reprieve.

  • Monday's comments from the BoT analyst meeting have had little follow-through in terms of baht price action today, even as the Bank reaffirmed its messaging pointing to an imminent rate rise.
  • The Thai National Shippers' Council (TNSC) said they are confident that the rebound in shipments will proceed as expected. This contrasts with a more cautious assessment of Thailand' main economic planner (NESDC).
  • The Customs Department is expected to release monthly trade figures this week, the data may hit the wires at any point from now.
  • Elsewhere, the Cabinet holds its weekly meeting today.
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