Bangkok, May 17 – capital markets and money markets keep an eye on Thai politics. The baht moved between 34.14 and 34.17 baht/US dollar this morning (09:15), depreciating from yesterday's closing level of 33.96 baht/US dollar.

Miss Kanchana Chokpaisarnsilp research executive Kasikorn Research Center stated that the baht depreciated in line with the yuan and other Asian currencies. In addition, the market is still waiting to follow up on political issues in Thailand. especially the establishment of a government While pressure on the dollar relax some After the latest US economic data, both retail sales and industrial production continues to grow This led the market to lower their expectations about the prospect of a US interest rate cut. This year came down some It was also revealed that US debt ceiling negotiations last Tuesday There is good progress. Although not yet concluded at this time

As for the movement of the baht today (May 17, 2023), it is expected to be at 34.10-34.25 baht / US dollar, with the factors to be monitored on the fund flow signal and the direction of Asian currencies. The progress of the US debt ceiling negotiations and statements by Fed officials While key foreign economic data include the Eurozone April Consumer Price Index and the US April housing start numbers.

Mr. Kornphat Worachet Director of Research and Investment Services Krungsri Capital Securities Public Company Limited said yesterday that negotiations on the US debt ceiling issue concluded that a specific working group would be set up to negotiate an agreement that would lead to an increase in the ceiling. The President of the United States is focused and should have a positive conclusion to reduce the risk (Risk) of the US economy. while in Thailand The Kao Klai Party started walking to discuss with the coalition parties, forge policies and reveal their attitudes to talk to senators according to the process.

by the development of Thai politics after the election What still needs to be followed are 1) the attitude of the party invited to join the government under the leadership of the Progressive Party and 2) obstacles to the Prime Minister's vote. Based on the number of votes from the coalition government according to the latest plan, around 308 votes, lower than the conditions for choosing the prime minister. That requires 376 votes (more than half of the 500 MPs + 250 senators). Most recently, the party's secretary-general said that the decision of the party that did not participate in the government voted for the prime minister. It's a decision of each party. As for negotiations with senators, the Progressive Party is ready to discuss and exchange. and contact to talk We look at it as a small good sign. towards the party's stance and the opportunity to form a government and elect the prime minister

so short Today, look at the picture of the market "Sideways", the overall picture of energy prices that are swinging down. in response to the slower-than-expected economic recovery in China In the short term, looking at the energy group, while most of the Domestic group still faces negative psychology. unclear political direction in the country But the overall picture will be supported by a positive picture, the market profit of the latest quarter 1/23 exceeded 2.6 billion baht. – Thai News Agency

Source: Thai News Agency