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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 holds Friday's range and last trades -0.007 at THB31.388, showing a limited reaction to weekend news flow re: local Covid-19 outbreak.
- Thailand's Public Health Emergency Operation Centre held an emergency meeting Sunday to discuss the resurgence of the local Covid-19 outbreak. Public Health Ministry off'l told the media that the gov't is planning to implement a new colour-coded system of targeted restrictions, which will effectively involve tighter curbs.
- Meanwhile, Bangkok metropolitan authorities shut a range of businesses for two weeks and ordered residents to wear masks or face THB20,000 fines.
- PM Prayuth unveiled plans to inject THB380bn into domestic economy to stimulate consumption and investment. The announcement lacked details re: timeline of spending.
- Public Debt Management Office (PDMO) chief said that the gov't may need to rethink its fiscal sustainability framework, as economic recovery requires continued stimulus.
- PM Prayuth will meet with representatives of the private sector Wednesday to discuss how to facilitate the national Covid-19 vaccination campaign.
- Thailand's M'fing Production Index comes out Wednesday, with analysts surveyed by BBG expecting the index to fall -0.40% Y/Y vs. -1.08%.
- Later in the week's focus moves to Friday's BoP current account balance, trade data & foreign reserves data.
- Bears would be pleased by a slide through Apr 19 low of THB31.173, towards Mar 26 low of THB31.060. Bullish focus falls on Apr 12 cycle high of THB31.575.
Fig. 1: Thailand Daily Confirmed Covid-19 Cases
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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