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Baht appreciation While the Thai stock market increased in response to the gradual opening of the economy.
Kasikorn Thai Research Center Baht movement summary Baht appreciation According to the direction of movements of other currencies. In Asia and the risky asset market as a whole, driven by the plan to reopen the economy, loosen blockade measures in many countries and hope to treat Covid-19. In addition, the dollar is also facing weakness in the sale. After the Federal Reserve meeting. Repeat the signal ready to relax with all the financial tools available to support the recovery of the American economy.
On Thursday (April 30) the baht stood at 32.37, compared to 32.45 baht per dollar. The previous Friday (April 24)
For the next week (May 4-8), Kasikorn Bank assessed the movement of the baht at 32.20-32.50 baht per dollar. Important factors to monitor are Thai inflation data for April. Situation after opening the economy both at home and abroad. And the outcome of the Bank of England’s monetary policy meeting, while key US economic figures. USA These are non-agricultural employment figures Private employment in the ADP and PMI / ISM services sector, April Factory orders for March And the number of weekly unemployment applications
The movement of the Thai stock market. Thai stocks resumed above 1,300 points, with the SET index closing at 1,301.66 points, 3.41% more than the previous week. The average daily trade value was 59,605.08 million baht, 12.54% less than the previous week, while the MAI increased 3.12% from the previous week to close at 256.19 points.
The Thai stock market rose throughout the week. Amid gradual return support to open some parts of the economy Including preparation to facilitate internal closure measures Initially, allow activities / activities in the first 6 groups (markets, grocery stores, retail-wholesale, recreation sports, barber shops, etc.) resume operations from May 3. Thai stocks also have additional support for news reports on progress in Remdesivir trials for the treatment of Covid-19.
For next week (4-8 May), Kasikorn Securities Company Limited considers the Thai stock market index to be supported at 1,285 and 1,275 points, while resistance is at 1,320 and 1,355 points, respectively. 1Q20 earnings of the listed Thai company. Coovid-19 status. Including progress in economic and domestic recovery. Important economic data for the United States is nonfarm employment figures. Unemployment rate and the April PMI composite index, while other major foreign factors are the April PMI composite index for China, Japan and the euro area.
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