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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
Spot USD/THB has ground lower this morning, descending onto trendline support at THB29.920, which has limited losses so far. The rate last changes hands at THB29.923, in the wake of a poor showing from the greenback in overnight trade.
- Late doors on Tuesday, Thai Cabinet gave a nod to a THB19.7bn motorway project as well as subsidy programmes for rice (THB28bn) and palm oil (THB8.8bn) farmers.
- House Speaker Chuan Leekpai said that the ruling party's petition to the Constitutional Court re: the no-confidence motion would not affect the schedule for the censure debate, expected to begin on Feb 16.
- A clean breach of the aforementioned trendline support, intersecting at THB29.920, would draw attention to Dec 18 low of THB29.757. Conversely, a jump above the 50-DMA at THB30.047 would expose Feb 5 high of THB30.132.
- Looking ahead, the BoT will release its weekly update on foreign reserves on Friday.
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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