aseannow.com on Nostr: Thai baht could depreciate further against US dollar, says K-Research ========== ...
Thai baht could depreciate further against US dollar, says K-Research
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Kasikorn Research Centre (K-Research) predicts that the Thai baht could depreciate further against the US dollar, potentially reaching 36 baht to a dollar. This forecast is based on robust US economic data expected to be released later in the week and any delays in the Federal Reserve's proposed interest rate cuts. K-Research notes continued capital outflows from Thailand due to weaker-than-expected economic results. The baht was trading between 35.76-78 against the US dollar, with a slight depreciation from the previous day's closing rate of 35.68. Kanjana Chockpisansin, head of research at K-Research, suggests that signs of resilience in the US manufacturing and service sectors could influence the Federal Reserve to maintain high-interest rates for a longer period. However, the Thai economy's outlook remains precarious, lacking the fundamental factors required for growth. As of January 24, the Thai stock market has seen fund outflows totaling 23.9 billion baht ($668 million) year-to-date, with foreign investors also selling Thai bonds worth 5.9 billion baht ($165 million).
#ThaiBaht #UsDollar #K-research #EconomicData #FederalReserve #InterestRates #CapitalOutflows #ThaiStockMarket #ForeignInvestors #ThaiBonds
https://aseannow.com/topic/1318086-thai-baht-could-depreciate-further-against-us-dollar-says-k-research/
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Kasikorn Research Centre (K-Research) predicts that the Thai baht could depreciate further against the US dollar, potentially reaching 36 baht to a dollar. This forecast is based on robust US economic data expected to be released later in the week and any delays in the Federal Reserve's proposed interest rate cuts. K-Research notes continued capital outflows from Thailand due to weaker-than-expected economic results. The baht was trading between 35.76-78 against the US dollar, with a slight depreciation from the previous day's closing rate of 35.68. Kanjana Chockpisansin, head of research at K-Research, suggests that signs of resilience in the US manufacturing and service sectors could influence the Federal Reserve to maintain high-interest rates for a longer period. However, the Thai economy's outlook remains precarious, lacking the fundamental factors required for growth. As of January 24, the Thai stock market has seen fund outflows totaling 23.9 billion baht ($668 million) year-to-date, with foreign investors also selling Thai bonds worth 5.9 billion baht ($165 million).
#ThaiBaht #UsDollar #K-research #EconomicData #FederalReserve #InterestRates #CapitalOutflows #ThaiStockMarket #ForeignInvestors #ThaiBonds
https://aseannow.com/topic/1318086-thai-baht-could-depreciate-further-against-us-dollar-says-k-research/