The baht reached its strongest level in 1 and a half months after signals from the Fed were not strong. Reduces the possibility that the Fed will raise interest rates in the future. SET Index rose in line with foreign stocks. Keep an eye on important factors next week. Thailand’s inflation numbers in October Signs of foreign capital situation in israel Including statements from the Fed Chairman. and senior Fed officials
November 5, 2023 Kasikorn Research Center Summary of the movement of the baht value: The baht strengthened the most in approximately one and a half months. The baht fluctuated before the Fed meeting. The baht strengthened initially. Like other currencies in the region, it weakened back in the middle of the week following the decline in gold prices on the world market that were unable to sustain above the $2,000 per ounce level, while the dollar Partially recovered following the direction of US bond yields. and the buying power of the dollar Before the Fed meeting
However, the baht turned stronger after the Fed meeting. which kept the policy interest rate unchanged at 5.25-5.50% and took a less controlling stance than the market was worried about which makes the market interpret that Opportunity to see additional interest rate hikes from the Fed in the future should decrease. In addition, the dollar has additional negative factors from the number of weekly jobless claims in the United States. That came out worse than expected as well.
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