The bank estimates that the Thai baht traffic frame is 30.00-30.40 baht per dollar for December 7-11. The market reveals BOT’s supervisory policy. Urge the baht to cross the border – avoid the dollar risk
On December 6, 2020, Mr. Phoonpanichpiboon, money market strategist, capital market Krung Thai Bank revealed to “Prachachat Business” that the direction of the baht movement in the following week (December 7-11, ’20), Krung Thai Bank estimates at 30.10- 30.40 baht on the dollar. Internal factors to watch for will be the second wave of the COVID-19 epidemic, which has begun to worry again. With the Bank of Thailand’s (BOT) currency announcement on December 9, the market is waiting for the policy to be released on that day.
Overseas factors continued to drive Britain’s exit from the European Union (Brexit) on December 10-11, despite Thailand’s market shutdown. But the overall atmosphere will be risky to avoid dollar risk. Make the dollar tend to rise in value
Next week’s frame will start to see Take Profit as we are starting to see a second round of COVID-19 news, triggering a temporary sale. He temporarily rested on the stock exchange. If we look at the fund flow data over the past week, we can see that bonds have flowed through about 3,200 million baht, mostly long. Short bonds are also flowing in. While the stock market continues to pour in around 3800 million baht. Overall, foreigners still have a net inflow of 600 million baht. We still see baht rising. There are also moments that weaken depending on the dollar strength “
Miss Kanchana Chokphaisansilp Research Administrator at Research Center Kasikorn told Prachachat Business that capital flows next week (Dec 7-11, 20) should be carefully monitored. As the market continues to monitor, wait and see what form the Bank of Thailand (BOT) should take care of. Causing quite limited baht movement The Thai Baht frame is predicted to be 30.00-30.40 Baht per dollar.
“Following the BOT’s announcement of currency measures, we can see that the Thai Baht framework continues to narrow. And gradually appreciating Next week the flow of funds is still cautious. Since we have a case that the BOT will announce, will we do more? Let the market wait and see There is also the issue of the outcome of the European Central Bank meeting and the EU summit to which the market still needs to pay attention ”.