BANGKOK, Thailand – Research Executive at Kasikorn Research Center, Ms. Kanjana Chokpaisansilp, revealed that on Friday (September 20), the Thai baht closed at 33.03 per US dollar, the strongest level in over 19 months, compared to the previous day’s close of 33.09. The baht continues to strengthen amid ongoing speculation about the US Federal Reserve’s potential interest rate cuts, which has been weighing on the US dollar sentiment.
Additionally, the Thai baht was bolstered by the upward movement of global gold prices and the positive signs of sustained foreign investment in Thai stocks and bonds. Today’s foreign fund inflows saw net purchases of 1.399 billion baht in Thai stocks and 1.359 billion baht in Thai bonds.
For the upcoming week, the baht is projected to fluctuate between 33.00 and 33.50 baht per dollar.
Key factors to monitor include foreign investment trends, Thailand’s August export figures, global gold prices, and other regional currencies. Significant US economic data to watch include September’s preliminary PMI index, consumer confidence, new home sales, durable goods orders, pending home sales, and inflation data from the PCE and Core PCE indices for August.
Additionally, the final Q2 GDP figures and weekly jobless claims data will be important. Markets will also be looking at statements from Federal Reserve officials and September’s preliminary PMI data from the Eurozone, UK, and Japan.
