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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.
THB
Spot USD/THB seems unfazed by a smaller than expected GDP contraction recorded in Q1. The rate last sits +0.045 at THB31.415.
- The Thai economy shrank 2.6% Y/Y in Q1 after a 4.2% contraction in the final quarter of 2020, vs. BBG median forecast of a 3.3% fall. On a quarterly basis, GDP unexpectedly rose 0.2% Q/Q, while analysts expected it to fall 1.0%.
- Despite above-forecast Q1 print, Thai NESDC slashed its 2021 GDP target range to +1.5%-2.5% Y/Y from +2.5%-3.5%, while also cutting the 2021 foreign tourist arrivals est. to 0.5mn, as Thailand continues to battle the resurgence of Covid-19.
Fig. 1: Thailand GDP Y/Y (%)
Source: MNI - Market News/Bloomberg
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.
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