Thanks to data from Kasikorn Research Center (KResearch)
Summary of Thai Baht Movements

  • The Thai baht hit its lowest level in nearly three years at 33.39 baht per dollar, facing depreciation pressures amid rising risks from the domestic COVID-19 outbreak, which continues to impact Thailand's economic outlook for this year and next. Additionally, the dollar received further support from the weekly unemployment claims figures in the U.S. and statements from senior officials at the Federal Reserve (Fed), which fueled speculation about the possibility of the Fed starting to gradually reduce its asset purchase program through QE measures within this year. Notably, from August 2-6, the baht depreciated by 1.4%.
  • On Friday (August 6), the baht was at 33.34 baht per dollar compared to 32.87 baht per dollar the previous Friday (July 30).

For the upcoming week (August 9-13), Kasikorn Bank forecasts the baht's movement range to be 33.10-33.60 baht per dollar, while KResearch assesses key factors to monitor, including the situation and control measures for COVID-19 domestically. Important U.S. economic data includes the Consumer Price Index, Producer Price Index, import-export price index for July, the preliminary Consumer Confidence Index for August, job openings and labor turnover (JOLTS) for June, and weekly unemployment claims. Additionally, the market is also awaiting China's economic data for July, including exports, Consumer Price Index, Producer Price Index, and yuan lending.

Summary of Thai Stock Market Movements

  • Thai stocks closed near the previous week's closing level, with the SET index closing at 1,521.72 points, down 0.01% from the prior week, while the average daily trading value was 73,390.55 million baht, down 7.31% from the previous week. The mai index increased by 3.03%, closing at 510.48 points.
  • Thai stocks rose in the early to mid-week following trends in foreign stock markets, along with some buying back in the banking and energy sectors. However, the Thai stock index fell in the remaining part of the week due to risk-reducing selling by foreign investors amid the worsening domestic COVID-19 situation, as daily infection and death rates continued to rise.

For the upcoming week (August 9-13), Kasikorn Securities Co., Ltd. anticipates that the Thai stock index will have support levels at 1,500 and 1,475 points, while resistance levels are at 1,535 and 1,545 points, respectively. KResearch assesses key factors to monitor, including the COVID-19 situation both domestically and internationally, progress in vaccine distribution, domestic political issues, and the gradual announcement of Q2/64 earnings by listed companies. Important U.S. economic data includes the Consumer Price Index and Producer Price Index for July, while other significant foreign factors include the Eurozone's industrial production for June, Japan's Producer Price Index for July, and China's economic data for July, such as Producer and Consumer Price Index.

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