Analysts assess that Digital Wallet will continue to support Thai stocks. Retail and consumer goods groups are keeping an eye on the Vayuphak Fund subscription opening next week, while the baht is still volatile, the strongest in 19 months. Mr. Nattapol Khamthakruea, Director of Investment Analysis, Yuanta Securities (Thailand), gave an interview on the 'Natee Thun' program, Thai News Agency, on Channel 9 MCOT HD, regarding the direction of the Thai stock market today, which is still positive, with domestic factors from the economic stimulus policy through the 10,000 baht digital wallet top-up project, Phase 1, which will start paying to vulnerable groups on September 25, totaling 14 million people, with 140 billion baht, or 5% of quarterly consumption, which will significantly stimulate the economy and purchasing power, supporting the retail sector and groups related to consumer goods. For external factors, the Asian stock market is in a bright direction after the US Federal Reserve (Fed) is expected to cu t interest rates at its meeting next week, except for the Japanese stock market, which is being pressured by the strong yen. Next week, buying power should be lighter as Vayuphak Fund 1 is open for general investors and the following week, it will be open for institutional investors. The movement range is estimated to be 1-2 weeks with support at 1,410-1,420 points and resistance at 1,440-1,450 points. For the world gold price, it closed at a record high (new high) supported by expectations that the Fed will cut interest rates, but the Thai baht strengthened, causing the gold price in Thailand to not hit a new high. For Thai gold investors who do not want to be affected by the baht and can accept high risks, there is an investment alternative such as Gold Online Futures in the Futures Exchange Market (Thailand) or the TFEX market. The Kasikorn Research Center reported that the baht hit a new 19-month high of 33.32 baht per dollar (the strongest since early February 2023) before adjusting back to 33.33-33.3 5 baht per dollar this morning (08.35), strengthening compared to yesterday's closing price of 33.75 baht per dollar. With significant support from the surge in the price of gold on the world market that made a new high, along with likely support from the selling pressure of the US dollar, especially against the euro, even though the European Central Bank has reduced the interest rate in this meeting by 0.25% as the market expected, there is still no signal of a rate cut in the next meeting in October. In addition, there are negative factors from the US economic figures, both the number of people applying for weekly unemployment benefits and the producer price index that came out lower than the market's expectations. The baht is estimated to move within the range of 33.25-33.55 baht per dollar today. We still need to monitor the direction of foreign capital, the situation of currencies in Asia, the industrial production figures in July of the Eurozone, and the preliminary consumer confidence index for Septem ber of the US. Similarly, Mr. Poon Panichpiboon, a strategist for the money and capital markets at Krungthai GLOBAL MARKETS, Krungthai Bank, stated that the baht strengthened in line with the gradual weakening of the dollar, as well as being supported by the flow of gold profit-taking transactions after the price of gold rose to a new high. The baht still has the opportunity to move volatility according to market players' views on the Fed's interest rate outlook or adjustments to the dollar holding status. It is estimated that the baht's range today will be 33.25-33.50 baht/dollar. It is recommended to be careful of volatility during the period of gradually receiving US economic data reports, such as the Consumer Confidence Index, as well as short-term and long-term inflation forecasts, which may affect market players' views on the Fed's interest rate outlook. Source: Thai News Agency