BANGKOK, Thailand – Kanjana Chokpaisansilp, an executive at Kasikorn Research Center, reported on October 11 that the Thai baht closed at 33.34 baht per US dollar, appreciating from Thursday’s close of 33.59. The baht’s recovery followed the upward trend in global gold prices and a slowdown in the dollar’s rise towards the end of the week. Mixed U.S. economic data led markets to speculate that the Federal Reserve might reduce interest rates during its November meeting.
On Friday, foreign investors recorded net sales of 1.16 billion baht in Thai stocks and 1.22 billion baht in bonds.
Looking ahead, Kasikorn Research Center expects the baht to move within the range of 32.90 to 33.70 baht per dollar for the week of October 14-18. Key factors to monitor include the Bank of Thailand’s monetary policy meeting on October 16, foreign fund flows, and the performance of Asian currencies.
Additionally, market participants will be watching U.S. consumer inflation expectations, retail sales, industrial production, housing starts in September, as well as regional Fed manufacturing surveys. Global economic events, such as the ECB meeting, inflation data from the UK, Eurozone, and Japan, as well as China’s Q3 GDP and other economic indicators, will also play a significant role in shaping currency movements.
