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Renewed Equity Outflows Continue, Cabinet Meeting Due

THB

Spot USD/THB changes hands -0.080 at THB36.377, consolidating gains registered Monday as the pair gapped higher at the start to the week.

  • From a technical perspective, the next topside target is provided by Jul 21 cyclical high of THB36.945. Bears look for a retreat through the 50-DMA (THB35.907) towards Aug 11 low of THB35.160.
  • Foreign investors sold a net $3.0mn of Thai equities on Monday, marking the second consecutive day of net outflows after a three-week uninterrupted series of net buying. The SET index dropped to its lowest point since Aug 23.
  • Prawit Wongsuwan chairs his first regular Cabinet meeting in his capacity as acting Prime Minister today. Spokespersons will brief reporters on any new decisions at 14:00 local time.
  • There's a wealth of data coming up tomorrow, including manufacturing production index, BoP current account balance & trade data. Later this week, S&P Global M'fing PMI & Business Sentiment Index will hit the wires on Thursday.

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