PATTAYA, Thailand – Kasikornbank (KBANK) projects the Thai baht to trade in the range of 32.40–33.00 per US dollar during the week of October 27–31, following a four-month low reached last week, according to its research center.
Key domestic factors to watch include September export data, economic indicators, and the Bank of Thailand’s discussions with the Federation of Thai Industries. International influences highlighted by KBANK include the Federal Reserve meeting on October 28–29, gold prices, and foreign fund flows.
Other global factors impacting the baht include the US government shutdown situation, US-China trade talks, Bank of Japan (BOJ) meeting on October 29–30, European Central Bank (ECB) meeting on October 30, Eurozone Q3 GDP, and China’s October PMI.
Last week, the baht weakened slightly, testing a four-month low at 32.90 per dollar, pressured by profit-taking in the global gold market and a weaker yen amid expectations that the BOJ would hold policy rates. The baht partially rebounded later in the week, supported by net foreign inflows into Thai stocks and bonds.
On Friday, October 24, the baht closed at 32.76 per dollar, compared with 32.66 per dollar the previous week. Foreign investors recorded net purchases of THB 7.78 billion in Thai equities and THB 6.58 billion in Thai bonds (after adjusting for maturing securities).
With export data and Fed policy decisions coming up, analysts expect the baht to remain volatile but within the 32.40–33.00 range this week.
