Thai baht opened at 30.75 baht, analysts pointed out that there is no clear trend of strength or weakness.
Mr. Jitipon Pruksa Metanan Head of Investment Strategy Team, EASY INVEST, Siam Commercial Securities (SCBS) Revealed that the baht opened this morning, March 10, was 30.75 baht per dollar. Strong appreciation from the close of the business day before 30.80 baht per dollar.
Evaluation of the Thai baht framework during the day 30.65-30.85 baht per dollar
Financial markets turned strongly over the past night. After a ten-year-old US Bond Yale shrank 6bps to 1.52% despite the massive stimulus package. Allowing investors to ease their concerns and invest in technology stocks that have been poured out for several days. The Nasdaq rose 3.69%, while the European S&P 500 and STOXX 600 closed 1.42% and 0.86% respectively.
The money market with the US Bond Yale adjusted. And a risk on market view made the dollar down by 0.6% against the base currency, with investors choosing to hold the euro instead of the dollar for the safe haven and speculating on the Australian dollar (AUD) for the asset. risky
At the same time, gold prices recover 2.0% to stand at $ 1715 per ounce again.
The baht today is expected to be boosted by the weakening of the dollar, in the next phase it is seen that the Asian currency and the baht will begin to gain a boost from investor confidence about the sector’s opening. More and more businesses in this region
However, it is expected that the problems with the rise of the United States. And the volatile financial markets can return at any time until they see real economic numbers.
“The baht may therefore fluct in a wide range without a clear trend of strength or weakness,” said Jitipon.
