BANGKOK, Thailand – KASIKORN Research Center reports that the Thai baht closed at 34.82 per US dollar on November 15, strengthening from the previous day’s closing of 35.10. The baht’s appreciation was driven by a rise in global gold prices and the strengthening of other Asian currencies, alongside some dollar-selling activities (buying baht) as investors adjusted positions. Foreign investors sold a net of 970 million baht in Thai stocks and 726 million baht in bonds on Friday.
Looking ahead, the baht is expected to trade within a range of 34.50 to 35.25 per dollar during the week of November 18-22. Key factors to watch include Thailand’s Q3 GDP data, foreign capital flows, Asian currencies, global gold prices, and statements from Federal Reserve officials. The U.S. will release key economic indicators, including housing starts, existing home sales, weekly jobless claims, and the Federal Reserve’s Philadelphia Manufacturing Index, along with preliminary data on consumer sentiment and PMI for November. The market will also monitor China’s LPR interest rate announcement, Indonesia’s monetary policy meeting, and inflation and PMI data from the Eurozone and UK.
