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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
THB
Spot USD/THB has extended gains this morning after last week's FOMC-driven upswing, breaking above a short-term channel top. The move may have resulted in the formation of a bullish flag pattern, with bulls on the lookout for a further confirmation. The rate last trades +0.060 at THB31.510.
- Should the pair punch through Apr 12 high/200-WMA, which kick in at THB31.575/31.581, bulls could target Sep 28, 2020 high of THB31.745, followed by Jul 24, 2020 high/61.8% retracement of the 2020 sell-off at THB31.858/31.871. Bears look for a dip through the 50-DMA at THB31.290, towards Jun 11 low of THB31.030.
- Thailand confirmed Friday that the details of the "Phuket Sandbox" have been finalised and the resort island will waive quarantine requirement for fully vaccinated foreign visitors on Jul 1.
- Fitch affirmed Thailand's sovereign credit rating at BBB+ on Friday, leaving outlook at stable.
- Thailand begins to ease its Covid-19 rules from today. Bangkok lifts capacity limits for non-air-conditioned restaurants, reopens pools and libraries, among others.
Fig. 1: USD/THB (Weekly)
Source: MNI - Market News/Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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