Kasikorn Bank (KBank) views the movement of the baht next week (12-16 Dec.) at the level of 34.50-35.30 baht/dollar, while the Kasikorn Research Center assesses important factors that need to be followed, including the results of the policy meeting. Finance and the Fed's Dot Plots, ECB and BOE meeting results, foreign capital direction (Flow), including the attitude towards the Chinese government's COVID measures. While important US economic figures include the Consumer Price Index (CPI), retail sales and industrial production data for November, the New York Fed Manufacturing Sector Survey results. and the results of the December Philadelphia Fed Business Outlook Survey. and the number of people applying for weekly unemployment benefits The market is also waiting to follow the preliminary PMI index for the month. December of the United States, Eurozone, and England, as well as November economic figures for China, such as industrial production, retail sales, and the house price index.
The baht fluctuated The baht flipped from its highest level in nearly six months at 6 baht/dollar to gradually depreciate early-mid-week amid the dollar's support from the Fed's interest rate hike. In addition, many Asian currencies face depreciation pressure. (Despite the news that the Chinese government is preparing to relax COVID measures) due to concerns about the weak signal of the global economy. However, the baht once again appreciated below the level of 34.58 baht/dollar in line with foreign investors' net buying of Thai bonds.
In addition, the dollar was negatively influenced by US labor market data. coming out weak (Number of continuous unemployment claims in the US increased to a 10-month high at 1.67 million), further supporting the possibility that the Fed will begin to slow down its outlook for policy rate hikes at the FOMC meeting on Dec. 13-14. The baht partially slowed down at the end of the week before entering the long holiday in the domestic market.
On Friday, December 9, 65, the baht closed at 34.79 baht / dollar, compared to 34.77 baht / dollar on the previous Friday (December 2). On December 6-9, 65, even though foreign investors net sold Thai stocks for 5,148 million baht, they had net inflows into the Thai bond market for 14,149 million baht (net purchases of 17,565 million baht minus 3,416 expired bonds). million baht)
