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Spot USD/THB operates -0.025 at THB32.835 as we type, close to a fresh cycle high of THB32.903 printed yesterday. A firm push through the latter level would put bulls in a position to target Apr 2, 2020 high of THB33.177. On the flip side, a slide past Jul 13 low of THB32.540 would clear the way to Jul 6 low of THB32.067.

  • Thailand declared 11,784 new Covid-19 cases on Monday, a new record surge, adding further 11,305 cases today. The national virus task force warned that daily cases could soon hit 30,000 and said that the Delta variant has now become the dominant strain in Thailand. As a reminder, tighter mobility restrictions in 13 provinces most affected by the virus outbreak take effect today.
  • Thailand's cabinet holds its weekly meeting today and may discuss additional economic relief measures for those affected by lockdown regulations.
  • Looking ahead, the Customs Dept will release monthly trade data for the month of June this coming Friday.