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Thailand's Covid-19 Task Force To Discuss Outbreak Situation

THB

Spot USD/THB has ticked higher this morning and last sits +0.040 at THB32.705, with bulls looking for a move through Jul 9 high of THB32.728, which would open up Apr 14, 2020 high of THB32.792. Bears need a fall through Jul 13 low of THB32.540, before taking aim at Jul 6 low of THB32.067.

  • The World Bank downgraded Thailand's growth outlook to +2.2% Y/Y in a report published Thursday from +3.4% forecast in March, noting that the projection may be cut further to +1.2% if Thailand fails to quickly contain the outbreak of Covid-19.
  • PM Prayuth will chair a meeting of Thailand's Covid-19 task force. Officials are set to discuss the local Covid-19 outbreak and the proposal to deploy rapid tests and mixed (i.e. Sinovac + AstraZeneca) vaccine regime.
  • Elsewhere, FinMin Arkhom will speak at an economic seminar hosted by the World Bank at 0900ICT/0300BST, while BoT Dep Gov Ronadol will hold a briefing on debt-holiday measures at 1000ICT/0400BST. The BoT have offered a two-month debt holiday to individual and SMEs affected by the latest lockdown measures.
  • The Bank of Thailand will provide their weekly update on foreign reserves today. The main point of note on next week's docket is customs trade report, due Wednesday.
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