Bangkok:Kasikorn Bank anticipates that the Thai baht will fluctuate between 33.30 and 33.80 baht against the US dollar in the coming week, with the market closely watching developments from the Bank of Thailand's Monetary Policy Committee (MPC) and the Federal Reserve (Fed).
According to Thai News Agency, the bank notes that the market's attention will also be on the direction of foreign capital flows. Last week, the Thai baht weakened to 33.73 baht per US dollar, marking its lowest point in three months. This depreciation was attributed to rising global oil prices due to tensions in the Middle East, global gold selling, and a stronger US dollar amidst speculation about potential interest rate hikes by the Fed in late 2026.
For the Thai stock market, Kasikorn Bank predicts support levels at 1,555 and 1,540 points, with resistance levels at 1,590 and 1,605 points. Last week's stock market performance was affected by selling pressure stemming from concerns over Middle East tensions and rising oil prices, which posed risks for inflation and interest rates. Despite a mid-week recovery spurred by foreign investor purchases in the banking and tourism sectors, the market closed lower, with the Thai stock index ending at 1,562.67 points.
For the week of October 26-30, 2026, Kasikorn Securities Co., Ltd. has forecasted similar support and resistance levels for the Thai stock index. Key factors to monitor include the MPC meeting (October 28), Thailand's September export figures, and central bank meetings from the Fed, the ECB, and the BOJ. Additionally, important US economic data and global events such as developments in the Middle East and China's industrial profit figures are expected to influence market movements.