Baht stays unchanged


The baht opened at 32.44 to the US dollar this afternoon (April 27), unchanged from Friday’s close. 

The baht is expected to move between 32.35 and 32.55 per US dollar today, and 32.15 and 32.75 this week, said Jitipol Puksamatanan, SCB Securities senior market strategist. 

The baht this week would move in a narrow range, as exporters and importers have gradually left the market, causing the currency to move mostly in line with the stock market. 

The currency should strengthen if US financial policies are more relaxed than other large central banks, the strategist said. 

He advised investors to watch the movement of the euro, which has been in positive territory following an improvement in the virus situation. 

This week, Amazon, Facebook, Microsoft, Apple and Alphabet will announce earnings. Monetary Policy Committee meetings of the European Central Bank, the Bank of Japan, and the US Fed will be held as well. 

In addition, initial jobless allegations are expected to increase by 3.5 million, with 19 million receiving social security benefits.