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"Thai baht appreciates while Thai stock market index falls below 1,600 points"
Kasikorn Research CenterSummary of the movement of the value of the baht The Thai baht appreciates little by little Consistent with the sales force of the dollar The two compared to the major currencies And most of the currencies of the region After the signal from the US Federal Reserve (Fed) it has been reported a delay in the pace of the rate hike in the United States next year. After the MPC Resolves to raise the key rate of Thailand for the first time since September. In 2011, the dollar continued to depreciate until the end of the week. Amid uncertainties over the interim finance bill to prevent the closure of US government agencies nearing the December 21 deadline
On Friday (21 December), the baht was 32.65, against 32.78 baht per dollar. The previous Friday (December 14)
For the following week (24-28 December), Kasikorn Bank estimates the movement of the baht between 32.50 and 32.90 baht per dollar. According to national factors such as the economic report, the salary, November Of the BOT while the US economic data Important in the week, consisting of the October real estate price index Sales of new homes and closed house sales in November December consumer confidence index Other factors What needs to be monitored is the adjustment of the investor position before the end of the year Progress in trade disputes between the United States and China
Regarding the movement of the Thai stock market The Thai stock market closed this week to less than 1,600 points, while the SET closed at 1,595.33 points, down 0.88% over the week previous year, while the average daily trading volume fell by 5.21% from the previous week to reach BAG 41,884.50 million. May fell 4.45% over the previous week to close at 367.14 points
The Thai stock index has moved into negative territory for almost a week. In the midst of concerns over global economic direction After many central banks reduced their forecasts for economic growth this year and next, even though the index rebounded in the middle of the week. That was supported by bank stocks after the MPC raised interest rates at the last meeting and that the Fed sends a signal to slow the rate hike next year. But world oil prices continued to fall and Thai exports contracted in November. Became a negative factor that put pressure on the index The rest of the week
For next week (December 24-28), Kasikorn Securities Company Limited estimates that the Thai stock index has a support range of 1,580 and 1,550 points, while resistance is 1,615 and 1,630 points , respectively. The showcase of the last week of the year The main US economic data include sales of new homes. And data on international trade in November Other important foreign factors include the Bank of Japan's monetary policy minutes. And industrial production in November Japan
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