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Thai Covid-19 Task Force To Consider Easing Restrictions

THB

Spot USD/THB changes hands +0.075 at THB32.820 at typing, with bulls looking for a move through a key layer of resistance located in the THB33.455-33.490 area, which capped gains this month. Bears see Aug 25 low/50-DMA at THB32.688/32.635 as their initial target and a break here would open up Jul 12/13 lows at THB32.540.

  • PM Prayuth chairs the meeting of Thailand's Covid-19 task force today, with officials set to discuss easing restrictions on inter-provincial travel and the operation of shopping malls, restaurants and sports centres. The Ministry of Health yesterday recommended easing these restrictions, even as the daily case count remains elevated.
  • The parliament will hold censure debates next week, with no-confidence votes against PM Prayuth & five other ministers slated for Sep 4. All are expected to survive the votes but the debate will provide an opportunity for the opposition to expose the government's missteps in managing the outbreak of Covid-19.
  • Notable data releases next week include m'fing production index (Monday), BoP current account balance & trade balance (Tuesday) as well as Markit M'fing PMI & business sentiment (Wednesday).

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