BANGKOK, Thailand – Thai baht opened at 34.31 per dollar on January 2, weakening significantly from the previous close at 34.07 per dollar (on December 30, 2024). The baht is expected to fluctuate between 34.10-34.40 per dollar within the next 24 hours. Since December 30, the baht has gradually weakened beyond the resistance zone of 34.20-34.30 per dollar due to the strengthening of the US dollar, particularly on December 31, a Thai financial market holiday.
The cautious sentiment in the US financial market continues to support demand for the dollar. However, the baht has found some support from the rise in gold prices (XAUUSD), which hovered around $2,620-$2,630 per ounce, preventing a clear breach of the 34.30 baht resistance level.
Today, market players are keeping an eye on US jobless claims data. Recent reports showed a rise in continuing jobless claims, contrary to the decline in initial claims, suggesting a potential slowdown in the US labor market.
