USD/THB Just Shy Of Cycle Peak Ahead Of FinMin's Monthly Briefing

Spot USD/THB has re-opened higher and extended gains thereafter and trades within touching distance from a multi-month high printed on Friday. The pair last sits +0.102 at THB31.167.

• A move through THB31.167 would give bulls a green light for targeting Oct 29 high of THB31.285, followed by Oct 26 high of THB31.335. Worth reminding that the 50-DMA recently crossed above the 100-DMA. On the flip side, bears look for a retreat towards the 200-DMA, which intersects at THB30.782.
• Phuket businesses welcomed the gov't's decision to allow entry by vaccinated tourists from Jul 1. Phuket Chamber of Commerce noted that as a result the local tourism industry will see the cash inflow equivalent to THB84bn.
• PM Prayuth expressed readiness to provide assistance to local companies affected by the Suez canal blockage.
• Thousands of refugees have headed to Thailand after Myanmar army conducted air strikes in Karen state, near the border with Thailand.
• The police cleared a protest site located close to the Government House and rounded up 99 protesters.
• Thai Tourism Council will hold a briefing on tourism reopening/outlook today, ahead of Finance Ministry's monthly economic briefing.
• Thailand's M'fing Production Index & BoP data come out Wednesday, Markit M'fing PMI & Business Sentiment Index hit Thursday, weekly update on foreign reserves is due Friday.