Bangkok: Kasikorn Research Center indicates that this week, market attention will be focused on Thailand’s November inflation figures, foreign fund flows, and global gold prices. The Thai baht is anticipated to trade within a range of 32.00-32.50 baht per dollar, while the Thai stock index is projected to have support levels at 1,230 and 1,215 points, with resistance at 1,265 and 1,285 points.
According to Thai News Agency, the Kasikorn Research Center noted that the baht experienced slight weakening earlier in the week due to a lack of new supporting factors and market focus on signals from the Bank of Thailand governor hinting at a potential decrease in Thai interest rates. However, the baht later strengthened in line with other Asian currencies. The dollar faced selling pressure after a decline in US bond yields, causing the market to reconsider the possibility of a Federal Reserve rate cut at its December meeting. This led to the baht reaching a two-month high of 32.16 baht per dollar, supported by rising global gold prices and net purchases of Thai bonds by foreign investors.
Kasikornbank projects the baht to move within a range of 32.00-32.50 baht per dollar this week. The Kasikorn Research Center identifies key factors to monitor, such as Thailand’s November inflation figures, foreign fund flows, the direction of Asian currencies, and global gold prices. International factors to watch include the November PMI/ISM manufacturing and services indices from the US, China, Japan, the Eurozone, and the UK, along with other US economic figures.
Regarding the Thai stock market, last week saw fluctuations, with the index initially moving within a narrow range before rebounding. This movement followed international market trends amid speculation about a potential Fed interest rate cut at next month’s meeting. Additionally, news about the government’s approval of the Thailand FastPass measure to expedite large-scale project investments stimulated buying in large-cap and technology stocks. The Thai stock index declined midweek due to investor concerns about flooding in the South, which could impact year-end tourism and the already fragile Thai economy. These concerns led to profit-taking in several stock groups, including banking, technology, and energy. Although the Thai stock index showed some recovery towards the end of the week after the flood situation eased, the recovery was limited by the absence of new catalysts.
For this week, Kasikorn Securities Co., Ltd. anticipates support at 1,230 and 1,215 points, with resistance levels at 1,265 and 1,285 points, respectively. The Kasikorn Research Center emphasizes monitoring Thailand’s November Consumer Price Index and foreign capital flows. Key US economic data releases include the November Manufacturing and Services PMI/ISM, the November ADP Private Employment Report, and weekly jobless claims. Other important international economic releases include the November Manufacturing and Services PMI from Japan, China, the Eurozone, and the UK, as well as the November Consumer Price Index (preliminary), the October Producer Price Index, and the Eurozone’s Q3 2025 GDP figures.