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"The baht has reached its lowest level in nine months, while the Thai stock market has increased compared to the previous week"
Kasikorn Research Center The baht movement. The baht has weakened against the dollar in the last nine months. And at the lowest level in 9 months at 33.36 baht for a dollar. By the weakening of the baht. Also compatible with the yuan. And other currencies in the region, because of concerns about trade disputes between the United States and China, while the dollar has a positive effect on the US economy (such as price indexes to production). Rising consumer prices and falling weekly jobless claims helped support the gradual rise in US Federal Reserve interest rates. (Fed)
On Friday (13 July), the baht was 33.35 against 33.17 per dollar. On Friday, 6th July
for the following week (16-20 July), KASIKORNBANK estimates the movement of the baht at 33.10-33.60 baht for one dollar. The market's focus is on the progression of trade disputes between the United States and China. In addition, the market should follow the Fed's monetary policy statement to Congress. US economic data The key during the week was the housing market index. Survey of manufacturing activity at the Fed And the Fed branch in New York in July. Retail Sales, Industrial Production Building Information And permission for construction in June and Beige Book of the Fed
.The stock market movement. The SET index closed at 1,643.52 points, up 1.78% from the previous week, while the average daily trading volume fell 21.49% over last week to 44,962.24 million. At 429.41 points, up 2.46% over the previous week
The SET exploded for the first time this week. Strong support for energy and petrochemical values. With the power of buying institutional investors. Before shortening the short. In the midst of concerns after US However, the SET index can recover the rest of the week. Profit before announcement of quarterly results. 2/2561
For the next week (July 16-20), KASIKORN SECURITIES Co., Ltd. estimates that the Thai stock market has a support range of 1.635 and 1.620 points, while resistance is at 1.650 and 1.675 points, respectively. Key factors to keep in mind include the continuity of retaliatory international trade measures especially between the United States and China, as well as progressively declaring the results of other US economic data include 2Q / D Statements by Jerome Powell, Chairman of the Federal Reserve, Fed Manufacturing Home Index build data for June. And the Fed's production index in Philadelphia in July. Other key external factors include China's GDP, the trade surplus and the consumer price index in June.
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