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Thailand Returns From Holiday Awaiting GDP Data

THB

Spot USD/THB holds slightly above neutral levels as local financial markets re-open after a public holiday last Friday. The rate last changes hands +0.090 at THB35.280.

  • Topside technical focus falls on Jul 21 cycle high of THB36.945. Conversely, bears look for a slide through Jun 29 low of THB34.960, followed by the 100-DMA at THB34.759.
  • The Thai economy is expected to have grown 3.1% Y/Y in Q2, according to Bloomberg consensus forecast. The latest GDP report will hit the wires later today.
  • Elsewhere, PM Prayuth will chair a meeting of Thailand's fiscal and monetary policy committee.
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