BANGKOK, Thailand – Poon Panitchpipool, a market strategist from Krungthai GLOBAL MARKETS, reported that the Thai baht opened at 34.39 per US dollar on January 3, 2025, weakening from the previous closing of 34.24.
The baht’s movement continues to show signs of depreciation, driven by the strengthening US dollar and a cautious financial market in the US. Economic data, such as jobless claims and the S&P PMI, came in better than expected, boosting the dollar.
The Euro and British pound also weakened, and the baht’s movement is supported somewhat by the rising price of gold. The baht is projected to move within a range of 34.20–34.50 per US dollar, with key economic reports, including the US Manufacturing PMI and remarks from Federal Reserve officials, to influence future trends.
