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USD/THB likely to trade in range of 32.5-33.0 at present, following a broader market tone: Scotiabank

The USD/THB is expected to trade in a range of 32.5-33.0 at present, following a broader market tone. Further the THB exchange rate will continue running a tight correlation with the DXY Index, according to the latest report from Scotiabank.

The difference between the United States and other economies’ rates will narrow amid continued monetary policy convergence going forward, which will likely see the U.S. dollar index retreating towards 92 then.

Further, given Thailand’s solid fundamentals including hefty current account surplus, the Thai Baht is expected to outperform regional peers amid escalating US-China trade war. The latest election progress could prop up the THB as well.

In addition, the Bank of Thailand (BoT) is expected to leave its policy rate unchanged at 1.50 percent at its monetary policy meeting scheduled to be held on September 19 with an accommodative monetary policy stance. The BoT’s real policy rate will turn positive as Thailand’s CPI inflation is bound to ease moderately starting from September on the back of favourable base effect, the report added.

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December 15 01:30 UTC Released

CNChina House Prices YY

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9.3 %

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8.6 %

December 14 15:00 UTC Released

USUS Retail Invty Ex Auto (R)

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0.7 %

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0.7 %

January 31 00:00 UTC 458478458478m

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January 22 19:00 UTC 470298470298m

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-1541 %

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Bln AR bln ARS

January 22 19:00 UTC 470298470298m

ARTrade Balance

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-1541 %

January 31 00:00 UTC 458478458478m

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2016 bln ARS

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Bln AR bln ARS

January 31 00:00 UTC 458478458478m

ARAnnual Primary Balance*

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2016 bln ARS

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Bln AR bln ARS

January 31 00:00 UTC 458478458478m

ARAnnual Primary Balance*

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2016 bln ARS

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Bln AR bln ARS

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