BANGKOK, Thailand – Executive Director of Kasikorn Research Center, Ms. Kanchana Chokpaisarnsuk, reported that on September 6, the Thai baht closed at 33.49 baht per dollar, marking its strongest level in 19 months (since February 2023). This is an improvement from the previous closing rate of 33.67 baht per dollar.
The baht’s appreciation is aligned with the net buying position of foreign investors in the Thai stock market, regional currency trends, and the yen’s performance, while the dollar faces continued selling pressure due to a lack of support as markets await the U.S. non-farm payroll and unemployment rate data to be released tonight.
For the week of September 9-13, the baht is projected to fluctuate between 33.30 and 34.00 baht per dollar. Key factors to monitor include details on the new government’s economic policies, foreign capital flows, and global gold prices. Important U.S. economic data to watch include consumer inflation expectations, August Consumer Price Index (CPI), Producer Price Index (PPI), preliminary consumer sentiment index for September, and weekly jobless claims.
Additionally, market participants will keep an eye on the European Central Bank (ECB) meeting outcomes, Japan’s Q2 2024 GDP, and China’s August economic data such as CPI, PPI, and new yuan loans.
