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Thailand To Report Q2 GDP Amid Protests & Covid Troubles

THB

The Thai economic docket is headlined by Q2 GDP data today. BBG median forecasts suggest that annual growth will register at +6.6% and will be coupled with a 1.2% quarterly dip on the back of Covid-19 outbreaks.

  • Political tensions continued to simmer in Thailand as the police used violence to disperse a group of 100 protesters who marched on a military base which is also PM Prayuth's residence.
  • BoT's meeting with the press to answer questions on economic matters and interest rates may also provide some interest today.
  • Elsewhere, Phuket extended Covid-19 restrictions through the month-end, dealing another blow to the Phuket Sandbox.
  • Spot USD/THB trades -0.015 at THB33.325 as we type, with bears setting their sights on last Friday's low of THB33.143, followed by Jul 29/20 lows of THB32.820/32.780. On the flip side, a move through Aug 10 high of THB33.490 would open up Jul 20, 2018 high of THB33.518.
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