Thailand Extends Emergency, PM Prayuth Downplays Reshuffle Speculation

USD/THB re-opened on a slightly softer footing and last deals at THB29.995. The rate keeps flirting with the 50-DMA, which intersects near the round figure of THB30.000.

• Thailand's Centre for Covid-19 Situation Administration approved the proposal to extend the nationwide state of emergency through the end of March and the decision is poised to receive a nod from the cabinet later today. The panel also agreed to relax some restrictions in several regions, including a ban on bars and restaurants serving alcohol.
• PM Prayuth pushed back against press speculation surrounding potential for a cabinet reshuffle in the wake of the recent no-confidence vote against the premier and nine ministers. Prayuth insisted that no minister will lose his post owing to the results of the vote.
• Bears would be pleased by a dip through Monday low of THB29.960, which would encourage them to target Feb 15 low of THB29.842. Bulls need a break above Monday high of THB30.045 before taking aim at Feb 5 high of THB30.132.
• The Customs Dept will release trade data for the month of Jan within less than an hour. Later in the week, focus in Thailand turns to the M'fing Production Index and BoP data, due Thursday.