30.40-30.75 THB/USD this week

BANGKOK, 27 June 2011 (NNT) – Kasikorn Research Centre (KResearch) has estimated that the Thai baht this week (27 June – 1 July 2011) will move in the range of 30.40-30.75 baht per US dollar, suggesting that investment of risk assets and trade figures be monitored closely.

KResearch reported that the baht had been influenced by external factors throughout the week. From the beginning to the mid of last week, the currency had been appreciating due to US dollar selling forces; however, it went down for the rest of the week.

After the currency depreciated to touch 30.70 baht per US dollar on Friday, it then managed to recover and close at 30.65 baht per US dollar, compared with 30.56 baht per US dollar on the previous Friday, 17 June.

As for this week, the baht is expected to move in the range of 30.40-30.75 baht per US dollar. Domestic factors that should be monitored are international trade figures for May, inflation rate for June and intervention signals by the Bank of Thailand to stabilise the baht.

Meanwhile, external factors that should be monitored are still concentrated on the Greek debt crisis, investment of risk assets in the global market and important economic figures from the US.