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Bangkok Bank Currency Trading Department It reported on the movement of the currency market on Thursday, April 30, 2020. The baht opened the market this morning (4/30) at 32.41 / 43 baht / US dollar. Stable from the market closing level on Wednesday (4/29) at 32.40 / 42 baht / dollar Per dollar It remained stable after the Federal Reserve Monetary Policy Committee (FOMC) announced interest rates at 0.00-0.25 % and confirmed that the Fed will keep interest rates at that level until the US economy recovers and until inflation returns to the Fed target of 2%
The Fed also said it will monitor the situation at this time. And he promised to use all available tools to support the US economy. USA In order to fully utilize AND maintain price stability In addition, the Fed warns that the Covid-19 virus epidemic will continue to press the United States’ short-term trend and create medium-term risks, Jerome Powell, Chairman of the Reserve Federal Reserve Bank) made a statement to the media after the end of the monetary policy meeting. The current economic situation in the US USA It must be supported by all parties so that the economy recovers and can resist the effects of this epidemic. As for the Fed, The Fed will take all reasonable steps. To help America’s home and business sector overcome the Covid-19 crisis. After having a strong impact on the economy. And they tend to retain employment Economic activity And the inflation rate will drop sharply in the near future
For US economic data. USA The US Department of Commerce. USA It published the first estimate of gross domestic product (GDP) for the first quarter of 2020, indicating that the US economy. USA It contracted 4.8%, less than analysts expected to contract 3.5%, which is considered the rate The biggest contraction in 11 years after expanding 2.1% in the fourth quarter of 1976. During the day, the Thai baht moved within the range of 32.31-32.42 baht / US dollar. Before the market closed at 32.33 / 34 baht / US dollars
For today’s euro move (4/30), the euro opened at $ 1.0860 / 62 / euro. It remained stable since the close of Wednesday (4/29) at 1.0868 / 70 inter-euro / euro. The euro remains stable as investors wait to see the outcome of today’s European Central Bank (ECB) policy meeting (4/30). The ECB is likely to expand its measures to buy debt. Go And the ECB can take other steps to help reduce pressure on the credit market. After the ECB has been pressured to find a way to prevent government bond yields from increasing. After Fitch downgraded the Italian rating to the lowest investment grade level. Right now, the ECB is printing new money at a record rate to buy many government bonds.
For economic numbers The French National Statistical Office revealed that the country’s gross domestic product (GDP) fell 5.8% in the first quarter of this year. It was a consecutive two-quarter drop after a 0.1% contraction in the fourth quarter of last year, prompting France to officially go into recession. During the day, the euro moved within the framework of 1.0850-1.0891 US dollar / euro AND closing the market at 1.0881 / 86 USD / Euro
For today’s yen move (4/30), the market opened at 106.78 / 79 yen / US dollar. Adjusted against Wednesday’s closing level (4/29) to 106.45 / 48 yen / US dollar. With the yen weakening in response to the news of Covid-19 drug treatment After the United States Gilead Sciences announced that it received satisfactory information on the use of remdesivir, the company’s antiretroviral drug, to treat patients with Covid-19 .
For economic numbers Ministry of Economy, Trade and Industry of Japan Revealed in the preliminary report that Japanese industrial production fell 3.7% in March compared to the previous month. Meanwhile, the industrial transportation index fell 5.0% to 94.0 and the inventory index increased 1.9% to 106.4. Yields will rise 1.4% in April and 1.4% in May, as assessed by the producer group survey.
Furthermore, the Japanese Cabinet Office revealed that consumer confidence in Japan fell to a record low of 21.6 in April. Because the economy was affected by the Covid-19 virus outbreak. The yen moves within the range between 106.39-106.85 Yen / US dollar and closing the market at 106.65 / 67 yen / US dollar
The main economic indicators for the United States this week are the number of weekly unemployment claims in the United States (4/30), personal income and expenses in March (4/30). People (PCE) March (4/30) Purchasing Managers Index (PMI) Chicago Area April (4/30) Purchasing Managers Index (PMI) Final Production, April March (1/5) Production Index in April 2017 From the United States Supply Management Agency (ISM) (1/5) and March construction expenses (1/5).
As for the 1-month swap rate in the country, -0.1 / 0.1 satang / US dollar AND the 1-month foreign coverage rate is -1.7 / 0.8 satang / dollar
SOURCE: www.prachachat.net
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