Bangkok: Kasikornbank has indicated that attention should be focused on Thai inflation, US employment figures, and events in the Middle East in the coming week.
According to Thai News Agency, the Kasikorn Research Center has revealed that the market will be observing Thai inflation figures, foreign fund flows, the Middle East situation, and US labor data closely. The Thai baht is expected to fluctuate between 31.80-32.80 baht per dollar, while the Thai stock market is projected to have support at 1,550 points and resistance at 1,600 points.
Kasikorn Research Center reported that the Thai baht experienced fluctuations throughout the past week, ultimately closing slightly stronger at 32.55 baht per US dollar, compared to 32.68 baht per US dollar the preceding week. Early in the week, the baht was buoyed by stronger Asian currencies, rising gold prices, and net buying of Thai bonds by foreign investors. However, mid-week tensions in the Middle East and rising oil prices led to a weakening of the baht, which later strengthened towards the end of the week following reports of a preliminary agreement between the US and Iran to extend a ceasefire for 60 days. The US dollar also weakened after the US PCE/Core PCE inflation figures met expectations.
For the week of June 1-5, 2026, Kasikorn Bank forecasts the Thai baht to trade within a range of 31.80-32.80 baht per US dollar. Kasikorn Research Center identifies key factors to monitor, including Thailand's May inflation figures, foreign fund flows, the situation in the Middle East, particularly regarding the US-Iran peace agreement, and statements from Federal Reserve officials. Important US economic data to watch includes the ISM/PMI manufacturing and services figures, May non-farm payrolls and unemployment rate, job openings, April factory orders, the Fed's Beige Book report, and weekly jobless claims.
In terms of Thai stock market index movement, the past week saw gains, reaching a 3-year and 1-month high of 1,581.74 points mid-week. This was driven by positive investment sentiment in the region, progress in US-Iran negotiations, domestic spending stimulus measures, and better-than-expected Thai export figures for April. Strong buying interest was observed in the electronics components sector, driven by trends in AI and data centers. However, the index pared gains towards the end of the week due to profit-taking in energy and electronics stocks, as well as pressure from portfolio adjustments following the MSCI Rebalance. Positive news about the ceasefire extension between the US and Iran was noted, but the SET index closed at 1,568.37 points on May 29, 2026, up 1.93% from the previous week, with an average daily trading volume of 68,816.82 million baht, up 22.25%. The mai index closed at 214.21 points, up 1.08% from the previous week.
For the upcoming week, Kasikorn Securities Co., Ltd. projects the Thai stock index to have support levels at 1,550 and 1,540 points, with resistance levels at 1,580 and 1,600 points. Kasikorn Research Center highlights key factors to monitor, including Thailand's May consumer price index, events in the Middle East, and foreign capital flows. Key US economic data includes the ISM/PMI manufacturing and services indices, ADP private sector employment data, May non-farm payrolls and the unemployment rate, as well as weekly jobless claims. Other significant international economic factors to watch are the May manufacturing and services PMI indices for China, Japan, the Eurozone, and the UK; the preliminary May consumer price index; the April producer price index; and the Eurozone's Q1 2026 GDP figures.