Thailand Begins To Ease Some Curbs, M'fing Sector Remains In Contraction

Spot USD/THB trades flat at THB32.240 as we type, with bears looking for a resumption of losses. A move through Jul 6 low of THB32.067 would shift focus to the 100-DMA/Jul 1 low at THB31.987/31.978. Conversely, a rally above the 50-DMA at THB32.689 would encourage bulls to take aim at Aug 26 high of THB32.835.

• Nationwide count of new Covid-19 infections registered below 15,000 for the second straight day. As a reminder, Thailand is relaxing some of its mobility curbs from today.
• Thailand's Markit M'fing PMI deteriorated to 48.3 in August from 48.7 in July. The index has been in contraction since May. IHS Markit said in their commentary that they "forecast Thailand GDP at 0.8% for 2021".
• The Bank of Thailand will release their Business Sentiment Index for the month of August later today. The Index fell to 41.4 in in July, registering at its lowest point since June 2020.
• The censure debate against PM Prayuth and five other ministers resumes today. Lawmakers yesterday grilled them over alleged corruption and embezzlement during the procurement of Covid-19 vaccines.