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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 failed to take out resistance from the 50% retracement of the Apr 2, 2020 - Dec 18, 2020 slide at THB31.467. It re-opened on a softer footing this morning and last trades -0.120 at THB31.337.
- A fall through Apr 1 & 2 lows of THB31.198 would turn focus to Mar 26 low of THB31.060. Conversely, bulls look for a renewed rally past aforementioned Fibo level/yesterday's high at THB31.467/31.470, which would bring Sep 28, 2020 high of THB31.745 into view.
- Thai authorities ordered "risky" entertainment venues in 41 provinces to shut for two weeks in a bid to halt further spread of infections linked to the Thong Lor cluster.
- The BoT told commercial lenders to stop doing new Libor-linked loan, bond and derivative transactions from Jul 1.
- The central bank hosts a virtual meeting for analysts to discuss its economic forecasts at 10:00am local time.
- The BoT will release its weekly update on foreign reserves later today.
Fig. 1: USD/THB
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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