Free Trial
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.
THB
USD/THB has firmed in early Thursday dealings, the pair last around 35.95/00, close to 0.25% weaker in THB terms. Intra-session lows from Wednesday trade came in at 35.82, fresh lows in the pair back to mid March of this year.
- The chart below shows USD/THB against the RSI (RSI), which breach oversold conditions (albeit just). This may have encouraged some position squaring in light of recent baht gains.
- Cross asset moves in terms of regional equity weakness is also likely to be playing a role, while gold prices sit modestly off recent highs. Onshore equities have turned lower in recent sessions.
- US yields have shown some stability in the first part of trade today as well.
- Local focus is on the supplementary budget, which cleared the first hurdle in parliament. This is part of PM Srettha's plan around the digital wallet rollout to boost economic growth (see this BBG link).
- The local data calendar swings back into gear next week, with trade figures due.
Fig 1: USD/THB RSI Hit Oversold Conditions
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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok