SCB Financial Markets sees baht in 32.95–33.20 per dollar range today

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Summary · why it matters

SCB Financial Markets expects the baht to 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 picked up when prices broke through a key resistance level, while Iran disclosed that it had reached an agreement with Oman on shipping routes through the Strait of Hormuz, pushing crude oil prices lower. Thailand’s July inflation came in at 1.95 percent year-on-year, slowing from 2.42 percent in the previous month and below market expectations. Meanwhile, the United States is preparing to impose import tariffs and set a minimum price for polysilicon imports to boost domestic production using the material.

Impact on assets 4

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Others± Mixed · 3 stocks
⛏Gold Futures
GOLD
▲ PositiveDemandrelevance

Gold buying picked up after price broke resistance, pushing baht stronger

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