USD/THB Uptrend Continues, 37.00 Within Sight, RSI Overbought Though

USD/THB has continued to climb in the first part of trade today. We sit close to session highs, last at 36.72, -0.50% weaker in baht terms since the open. This continues the recent run of baht weakness, with some catch up to USD strength post the onshore close yesterday also in play. There doesn't seem much in the way of resistance to the 37.00 figure level.

• Ther 14 day RSI is overbought territory but has been for a number of sessions. The 20-day EMA sits back near 35.91.
• Yesterday's BoT hike only provided fleeting support to the baht, as broader USD trends continue to dominate. A number of sell-side analysts see the BoT on hold for the remainder of the year.
• On the data front later we have August manufacturing production. The market consensus is -6.40% y/y, prior -4.43%. Tomorrow delivers August trade, current account, BoP figures.
• Local equities finished modestly up yesterday but still sub 1500 for the SET index. Offshore investors added $56.0mn to local equities, +$22.9mn to local bonds, but this wasn't enough to offset earlier outflows in the week.