BANGKOK, Thailand –The Thai baht opened this morning at 34.72 against the U.S. dollar, slightly depreciating from the previous close of 34.67, according to Poon Panichpibool, Market Strategist at Krungthai GLOBAL MARKETS, Krungthai Bank. The baht is expected to trade within a range of 34.55-34.85 on November 27, with potential volatility as markets digest upcoming U.S. economic data.
Since last night, the USD/THB has traded sideways, fluctuating between 34.59 and 34.77. The baht’s movement aligns with the U.S. dollar, which briefly strengthened alongside a rise in the 10-year U.S. Treasury yield. Positive U.S. economic data, particularly in the services sector, continues to reflect robust activity, supporting the dollar’s strength.
However, the dollar’s gains have been tempered by profit-taking on long USD positions and a rebound in major currencies like the Japanese yen (JPY). The yen strengthened past 153 yen per dollar, likely benefiting from safe-haven demand amid concerns over escalating trade tensions. President-elect Donald Trump’s threat to impose higher tariffs on imports from China, Mexico, and Canada has added to market unease.
Additionally, geopolitical uncertainties, particularly surrounding the ongoing Russia-Ukraine conflict, continue to influence market sentiment.
Traders are closely watching the U.S. Personal Consumption Expenditures (PCE) inflation data for October, a key indicator that could influence Federal Reserve policy expectations and further shape currency market dynamics.
