Thai baht may drop further this week


BANGKOK, 3 August 2015 – Thai stocks are likely to fluctuate this week due to domestic and external factors. Meanwhile the Thai baht is expected to weaken further after it plunged to its lowest level in six years last week.

Kasikorn Bank has forecast resistance and support levels for the Thai stock market this week at approximately 1,460 and 1,420 points.

However, the fluctuations are subject to several factors which include monetary policy, the US economic figures, the purchasing managers index (PMI) and the Eurozone financial disruption in Greece.

The Thai baht will likely fluctuate at a maximum of 35 baht against the US dollar. The Thai currency is also susceptible to commodity demands, employment rates and trade figures.