Baht appreciation After better than expected export numbers Fewer people infected with Covid – Prachachat Business

Foreign Exchange Department Bangkok Bank reported that the movements of the foreign exchange market on Tuesday April 21, 2020, the baht opened the market this morning (4/21) at 32.50 / 52 baht / US dollar. Adjusted for weakness from the market closing level on Monday (4/20) to 32.44 / 46 baht / US $ Last night, the US dollar strengthened as a safe currency. Compared to other major currencies after the price of crude oil, the WTI delivery contract in May. It has collapsed to a negative level for the first time since trading in oil futures on the NYMEX, as investors are still concerned that the government around the world has measures to block. It will result in a decrease in the demand for oil. Right now, the world’s oil supply is overflowing. Until the cost of storage (cost of storage) increased, as opposed to demand or demand that is significantly reduced. In addition, the situation of the Covid-19 epidemic Although in some countries it has begun to look better and there is a signal to relax the closure of cities such as New Zealand and Germany. That has been adjusted to a strict level of city closure. However, the impact has already begun to be reflected in some poor economic numbers. Last night, the Chicago Federal Reserve National Activity Index (CFANAI), which weighed 85 indicators of US economic activity. The US, dropped to -4.19 in March after hitting +0.06 on A.D. Piss

Due to domestic factors Today, the baht began to depreciate in the morning according to other major currencies. There is a boost to baht appreciation by two factors, namely Thailand’s international trade numbers. Last March Exports grew 4.17%, more than the market was expected to contract 5.8%, which is considered the highest value in 8 months. As a result, in the first quarter of 2020, exports grew 0.91%, while imports decreased 1.92%, resulting in a trade surplus of US $ 3,933.7 million. Furthermore, another factor supporting the baht is today (4/21), the number of people infected with Covid-19. It increases in 19 countries, resulting in the number of hospitalizations being reduced to just 655 people, which is considered a satisfactory number to some extent. However, a resolution on disease prevention methods is yet to be awaited. During the day, the Thai baht moved within the framework of 32.47-32.60 baht / US dollar. Before the market closed at 32.46 / 48 baht / US dollar

For today’s euro move (4/21), the euro opened at $ 1.0855 / 57 / euro. It depreciates from the close of Monday (4/20) to 1.0881 / 85 USD / Euro. The euro remains weak due to concerns about the spread of the virus. There are still many countries in the region where the number of infections has also increased significantly, especially Spain, which has recently become a country with the number of people infected with the virus. Most in Europe AND it is the country with the second highest number of infected people in the world after the United States, with investors watching closely at the European Union summit on Thursday (4/23) to find signs. On the EU measures Dealing with the Covid-19 crisis After the call to the EU to issue eurozone bonds together. Furthermore, the pound has also weakened. After the UK government is unlikely to relax the closure measures soon, Cabinet Minister Michael Kove said the British government will not consider facilitating the closure measures implemented four weeks ago. During the day, the euro moved within the framework of 1.0820-1.0858 US dollar / euro AND closing the market at 1.0840 / 42 USD / Euro

For today’s yen move (4/21), open at 107.70 / 72 yen / US dollar. It remained stable since the market closed on Monday (4/20) at 107.65 / 68 yen / US dollar. Today, the yen is moving upward like a safe currency. However, after the price of oil plummets, it cannot be appreciated much after being pressured by reports that the Japanese government will increase the limit on emergency measures to restore the economy from the effects of the Covid-19 virus. The cash will be distributed at 100,000 yen per person, resulting in an emergency budget to revitalize the economy from the effects of the Covid-19 virus at 117.1 trillion yen ($ 1.09 trillion), which is a record limit. The yen moves within the range between 107.31-107.75 Yen / US dollar AND the market closed at 107.35 / 37 yen / US dollar.

The main economic indicators for the United States this week are second-hand home sales in May (4/21), the February house price index (4/22), the Purchasing Managers Index (PMI) Advanced Manufacturing Industry Beginning of the Month Apr Margit (4/23), Purchasing Managers Index (PMI), Preliminary Services Sector, April Margit (4/23), New Home Sales March (4/23) ) Number of weekly jobless claims in the United States (4/23) Durable Goods Orders for March (4/24)

As for the 1-month early morning swap rate in the country, it is + 0.3 / + 0.5 satang / dollar AND the 1-month foreign coverage rate was + 2.75 / + 4.6 satang / US dollars