Baht Weakens as Fed Rate Hike Expected After US PCE Beats Forecasts

MacroDigital Finance
โดย สำนักข่าวอีไฟแนนซ์ไทย·THUS·Read original
Summary · why it matters

The baht opened today at 32.82 baht per dollar, weakening from yesterday's close of 32.76 baht per dollar, following the US PCE inflation index coming in higher than expected, supporting a Fed rate hike. The Financial Markets Group of Siam Commercial Bank assesses a trading range of 32.70 - 32.95 baht per dollar. Meanwhile, the Monetary Policy Committee unanimously voted to hold the policy rate at 1.00% per annum, and the parliament approved a 400 billion baht borrowing decree to address the energy crisis and restructure the country. Investors assign a 54.7% probability that the Fed will raise interest rates by at least 0.25% at its October meeting, after the headline PCE index rose 3.7%, higher than the forecast of 3.6%, while core PCE stood at 3.3% as expected. Investors are watching for a speech by Fed Chair Kevin Warsh at the Jackson Hole meeting on Friday for signals on the direction of rates, amid inflation above the 2% target and US government debt surging above 40 trillion dollars.

Impact on stocks 3

Digital Finance & Tokenization▲ · 1 stocks
SCB X Public Company Limited
SCB
± MixedMonetaryrelevance

Baht weakness and Fed rate hike expectations may affect Thai economy, but no direct impact on SCB X mentioned.

Others▲ · 2 stocks
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