Baht strengthens, moving in a range of 32.95 to 33.20 per dollar

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Summary · why it matters

The financial markets group at Siam Commercial Bank assesses that the baht today is moving in a range of 32.95 to 33.20 per dollar. The baht has strengthened rapidly in line with higher gold prices after buying increased when prices broke through a key resistance level. This comes as Iran disclosed that it reached an agreement with Oman on shipping routes through the Strait of Hormuz, leading to continued low crude oil prices. Meanwhile, Thailand's inflation in July stood at 1.95 percent compared with the same period last year, slowing from the previous month's 2.42 percent and coming in below market expectations. In the United States, preparations are underway to impose import tariffs and set a minimum price for polysilicon imports to promote domestic production using the material.

Impact on assets 4

Digital Finance & Tokenization▲ · 1 stocks
Others± Mixed · 3 stocks
💱US Dollar/Thai Baht FX Spot Rate
USDTHB
▼ NegativeMonetaryrelevance

Baht strengthens due to higher gold prices and lower oil prices, with inflation slowing; no explicit policy action, but currency movement is driven by macro factors.

⛏Gold Futures
GOLD
▲ PositiveDemandrelevance

Gold prices rise as buying increased after breaking key resistance, boosting gold futures.

⛏Polysilicon Futures (GFEX)
POLYSILICON
▼ NegativeTariffrelevance

US plans to impose import tariffs and minimum price on polysilicon, likely increasing costs or restricting supply for polysilicon futures.

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