Onshore Markets Return, September Customs Trade Data Out

A reminder that Thailand markets return today after yesterday's holiday. On the data front we have September customs trade figures out. The market expects export growth at -1.75%y/y (prior 2.57%), while imports are forecast at -5.55% y/y (-12.76% prior). The trade balance is forecast at $400mn, versus $360mn in August.

• Also note that PM Srettha chairs a cabinet meeting at 9am local time. Later on, the PM delivers a speech on the 2024 outlook for Thailand at 5pm local time.
• Onshore equities ended last week on a soft note. The SET closing under 1400, losing 3.54% for the week.
• USD/THB finished at 36.51 last Friday, but the BBDXY is off over 0.4% since then, so the early bias may be to the downside in the pair.
• Last week saw offshore outflows from both local equities (-$111.6mn) and local bonds (-$268.7mn).