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Thailand's Coronavirus Situation Under Scrutiny, M'fing Data Eyed

THB

USD/THB sits at THB29.97, a touch below neutral levels in the wake of yesterday's greenback sales. A fall through the nearby trendline support at THB29.94 would open up Jan 21 low of THB29.92. Bulls look to take out the psychological THB30.00 figure which capped gains yesterday, before targeting the 50-DMA/Jan 18 high at THB30.11/13.

  • Thai gov't came under attack from opposition lawmakers for its handling of the coronavirus situation. Progressive Movement leader criticised the gov't for a sluggish vaccine rollout, while Health Min Anutin downplayed forecasts given by his adversary & insisted that the gov't's policies are guided by medical experts. Elsewhere, chief opposition whip Sutin said that the opposition will ask the Constitutional Court to remove at least five ministers
  • Meanwhile, the country declared a record number of new Covid-19 infections on Tuesday, with Samut Sakhon Dep Gov noting that the increase in detected cases is not surprising given the mass testing drive launched by the authorities.
  • Thailand's health panel may meet today to discuss lifting restrictions on some businesses, restaurants and schools.
  • Thai M'fing Production Index comes out later today, with BoP data & weekly update on foreign reserves due Friday.

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