Free Trial

Prayuth Stays On, CPI Data Eyed

THB

Spot USD/THB reopened on a softer footing following Friday's losses in the greenback and last changes hands -0.110 at THB32.505.

  • Thailand's Tourism Ministry pledged to reopen the entire country to foreign visitors from January, depending on achieving nationwide herd immunity against Covid-19. Some provinces will be allowed to reopen earlier as the inoculation drive progresses. Also, from next month vaccinated individuals will be allowed to use high-risk services (e.g. dining in restaurants) even in provinces with tightest Covid-19 restrictions.
  • PM Prayuth and five of his ministers survived votes of no confidence on Saturday, but media reports pointed to intense party infighting.
  • Thailand will report monthly CPI data later today. Bloomberg median estimate suggests that the annual rate of consumer-price growth should register at +0.30%.
  • From a technical point of view, a dip through Aug 31 low of THB32.215 is needed to reinstate bearish momentum and bring the 100-DMA at THB32.026 into play. Bulls look for a rally above the 50-DMA at THB32.739, followed by Aug 26 high of THB32.835.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.