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USD/THB Pulls Back, FinMin To Brief On Stimulus Measures

THB

Spot USD/THB has slipped and last deals -4 pips at THB30.07, trading through yesterday's trough. A further slide under Jan 13 low of THB29.95 would prompt bears to take aim at Jan 5 low of THB29.84. Conversely, a rebound above the 50-DMA coinciding with Jan 12 high at THB30.19 would turn focus to the Christmas Eve's high/23.6% recovery of the Jul - Dec, 2020 sell-off at THB30.24/25.

  • Thailand's National Statistical Office said Monday that the number of unemployed as of end-Dec rose to 590,000, which corresponds to 1.5% of total labour force.
  • The Director-General of Thai Disease Control Department said that the authorities are reviewing documents submitted to prove the efficacy and safety of the Oxford/AstraZeneca vaccine, which is expected to win emergency approval this week.
  • PM Prayuth chairs a weekly cabinet meeting today, during which ministers will consider another cash handout schemes. Meanwhile, FinMin Arkhom holds a briefing on stimulus measures at 14:30 local time.
  • Elsewhere, focus moves to the trade report form Thailand's Customs Office, due Friday.

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