Thai Gov't Mulls Extending Support Measures

Spot USD/THB sits at THB30.905, just shy of neutral levels, consolidating above its 200-DMA. The rate has held a tight range so far, with bulls looking for a push through Mar 19 high of THB30.965, located ahead of Nov 4 high of THB31.200. Bears look for a dip through the aforementioned 200-DMA at THB30.797, with next support coming up at THB30.660, the low print of Mar 18.

• Thailand launched the first human trials of a domestically developed Covid-19 vaccine based on an inactivated virus, with the rollout expected to begin next year.
• PM Prayuth chairs a Cabinet meeting, with ministers expected to consider a revised soft loan programme & setting up an asset warehouse.
• In adddition, Dep PM Supattanapong said that gov't considers extending co-payment measures and tax benefits as well as cash handouts for 1mn gov't officials. On Friday, an economic panel will discuss extending the "Travel Together" campaign.
• BoT Gov Sethaput Suthiwartnarueput will attend a briefing with the Finance Ministry on steps to help businesses hit by the Covid-19 pandemic.
• The BoT will deliver its latest monetary policy decision tomorrow and virtually everyone expects policymakers not to touch policy levers.
• Thailand's Customs Office will publish Feb trade report on Thursday, while Friday will see the weekly update on foreign reserves from the BoT.