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Baht could swing with fluctuating global stock markets this month (nationthailand.com)

Baht could swing with fluctuating global stock markets this month

NationalDec 04. 2020

By THE NATION

The baht opened at 30.19 to the US dollar on Friday, unchanged from Thursday’s close.The Thai currency is likely to move between 30.10 and 30.30, said Jitipol Puksamatanan, senior director of the chief investment office at SCB Securities.On Thursday night, the S&P 500 decreased by 0.1 per cent, while the Stoxx 600 was unchanged.The price of crude oil and gold rose by 0.5 and 0.8 per cent respectively, reflecting the weakening dollar.Opec+ tended to increase its production volume.In the US, the initial jobless claims announced this week were 712,000 positions. However, the US ISM Services Index dropped to 55.9 points, implying that the economic situation in the US was still unreliable for investors.The dollar index decreased by 0.5 per cent, while the yen and the pound were the most strengthened currencies.Also, the Ten-Year Treasury yield fell by two basis points to 0.92 per cent.In Thailand, the baht moved in a narrow range. Jitipol believed that a turning point is the global stock market, which could fluctuate in the rest of the month.