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JGB TECHS

(Z1) Bearish Trend Condition

AUSSIE 10-YEAR TECHS

(Z1) Bearish Price Sequence

AUSSIE 3-YEAR TECHS

(Z1) Off Recent Highs

US 10YR FUTURE TECHS

(Z1)‌‌ Support Appears Exposed

THB

Spot USD/THB oscillates around neutral levels, last changes hands at THB29.98. A move through the 50-DMA at THB30.09 would clear the way to Jan 18 high of THB30.13. Meanwhile, a dip through yesterday's low of THB29.89 would expose Jan 4 & 5 lows of THB29.84.

  • The BoT's Business Sentiment Index deteriorated to 44.2 in Jan from 46.8, falling to the worst level since Jul 2020.
  • PM Prayuth chairs the meeting of Thai cabinet today, ministers may consider additional cash handouts. Elsewhere, the Centre for Covid-19 Situation Administration gives an update at 11:00am.
  • Focus turns to the monetary policy decision from the BoT, due tomorrow. All but 3 out of 27 economists surveyed by BBG expect policymakers to leave interest rates unchanged.
  • The Bangkok Post flagged ahead of the decision that "household debt stood at 13.8 trillion baht, or 87% of gross domestic product, at the end of September 2020, up from 79% a year earlier, according to Bank of Thailand data," while "debt levels will be one of the risks the BoT considers in its policy decision on Wednesday after its latest meeting minutes cited household finances as a factor that warrants attention."
  • Looking further afield, Thai CPI comes out on Friday, just four hours ahead of the weekly update on foreign reserves.
MNI London Bureau | +44 203-865-3806 | krzysztof.kruk@marketnews.com