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Prayuth Ousts Two Ministers, Parliament To Vote On Charter Amendment

THB

Spot USD/THB closed at THB32.710 Thursday, with political headlines scrutinised this morning. Bears look for a retreat under Sep 6 low of THB32.333 towards Aug 31 low of THB32.215. Bulls eye Sep 8 high of THB32.840 for initial resistance and a break here would expose Aug 24 high of THB33.318.

  • PM Prayuth chairs the meeting of Thailand's national Covid-19 task force today. The panel will review the current situation and look into existing control measures at 13:30 ICT/07:30 BST.
  • The Bank of Thailand will provide their weekly update on foreign reserves today. Next week's docket includes nothing much outside of another such update.
  • PM Prayuth ousted a couple of junior ministers, including the secretary general of the ruling PPRP, which was reportedly linked to their role in last week's plot to unseat him.
  • The parliament is set to vote on the charter amendment bill restoring a two-ballot electoral system, which tends to favour larger parties. It is unclear if the government will manage to muster enough support in the Senate.

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