SCB expects baht to trade in 32.95–33.20 per dollar range today

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Summary · why it matters

The financial markets group at Siam Commercial Bank estimates the baht will move in a range of 32.95 to 33.20 per dollar today. The baht strengthened rapidly in line with higher gold prices after buying increased when prices broke through a key resistance level, together with Iran revealing it had reached an agreement with Oman on shipping routes through the Strait of Hormuz, causing crude oil prices to continue falling. In addition, Thailand's July inflation came in at 1.95 percent compared with the same period last year, slowing from 2.42 percent the previous month and coming in below market expectations. Meanwhile, the United States is preparing 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
⛏Gold Futures
GOLD
▲ PositiveDemandrelevance

Gold prices rose as buying increased after breaking key resistance, indicating higher demand.

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