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THB34.000 Provides Firm Resistance

THB

Spot USD/THB approached the THB34.000 figure on Wednesday but the psychological barrier proved resilient. The rate sits -0.090 at THB33.835, with bulls looking to claim THB34.000 before taking aim at Jul 11, 2017 high of THB34.140. On the downside, bears keep an eye on Oct 1 low of THB33.625 and a break here would expose Sep 23 low/50-DMA at THB33.155/33.135.

  • The Tourism Authority of Thailand (TAT) said that over 42,000 international travellers have flown into Phuket between Jul 1 and Oct 5 and generated more than THB2bn for the economy.
  • The University of the Thai Chamber of Commerce will publish the latest results of their monthly consumer confidence survey today. Headline index tumbled to a record low in August, as sentiment took a hit from Covid-19 restrictions.
  • In a worrying twist of events, Thailand recorded 11,200 new Covid-19 cases today. Daily caseload topped 10,000 for the first time in four days.

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