The baht is expected to move between 32.12 and 32.32 to the dollar today and between 32.10 and 32.60 this week, SCB Securities senior market strategist Jitipol Puksamatanan said.

Last week, the S&P 500 increased by 1.69 per cent, while the Euro Stoxx 50 closed positively at 0.95 per cent.

“Although the economy has not recovered, investors decided to put money into technology businesses as these have not been affected much this time,” he said.

The US Ten-Year Treasury yield has remained at 0.69 per cent, while German yields fell to minus 0.53 per cent. Also, the crude oil price decreased by 1.2 per cent to $30.50 (Bt980.36) per barrel. This showed the market is not yet ready for risk-free asset and cyclical risk asset investment, Jitipol said.

The US economy is estimated to fare better this week. Initial jobless claims are expected to increase by 2.5 million, and retail sales, announced on Friday, were likely to have contracted by 1.1 per cent in April compared to sales in March.

The baht, in the short term, would strengthen in a period where the market opens under risk, he said.

Investors this week must monitor US policies toward China, which could cause a new trade war and strengthen the dollar, Jitipol added.