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Virus Matters Continue To Dominate

THB

Spot USD/THB trades +0.032 at THB31.217, holding yesterday's range so far. A clearance of Apr 12 high of THB31.575 is needed to revive the broader bullish impetus. Bears look for a dip through the 23.6% retracement of the Dec 18 - Apr 12 rally at THB31.146, before targeting Mar 26 low of THB31.060.

  • The Public Health Ministry has drawn up plans to allow hospitals to discharge Covid-19 patients with less serious symptoms and make them self-isolate at home, as hospital beds are filling up.
  • BBG circulated comments from Krungsri Research, who said that Thailand may enter a technical recession in Q2 owing to the resurgence of coronavirus and a soft lockdown imposed to curb the latest wave of infections.
  • The BoT said that it stands ready to provide further assistance for businesses hit by the Covid-19 pandemic.
  • PM Prayuth chairs the weekly cabinet meeting today, with a press briefing due to follow at 15:00 local time.
  • Thai Customs Dept will release trade data for the month of March on Thursday. On Friday, the BoT will provide the weekly update on foreign reserves.

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