Bangkok: The baht is maintaining its position within a narrow range, with the market’s attention focused on US trading partner negotiations and the ongoing Thai-Cambodian situation. This morning, the baht opened at 32.38 baht per dollar, remaining stable and unchanged from the previous day’s close.
According to Thai News Agency, Mr. Poon Panichpibul, a market strategist at Krungthai GLOBAL MARKETS, Krungthai Bank, highlighted that the baht has been fluctuating between 32.35 and 32.51 baht per dollar since last night. This movement aligns with the dollar’s similarly directionless trajectory. The baht’s stability is also supported by a gradual increase in gold prices, influenced by the decline in the US 10-year bond yield and a slight weakening of the dollar.
The baht is anticipated to trade within a range of 32.15-32.55 baht per dollar today. The market is closely watching the outcome of the Federal Reserve’s FOMC meeting, which is expected to provide insights into the US interest rate policy. It is predict
ed that most FOMC members may opt to maintain the policy interest rate at 4.25-4.50%, allowing for a comprehensive assessment of US trade policy impacts. Although the overall US economy, including the labor market, remains robust, there is no pressing need for immediate interest rate cuts. Market participants are also keeping an eye on upcoming US economic data, as well as the economic outlooks for the Eurozone and Japan, and earnings reports from key companies like Meta and Microsoft. Additionally, trade negotiations between the US and its trading partners are under scrutiny. In Thailand, the ongoing conflict with Cambodia is another factor drawing market attention.
The Kasikorn Research Center noted that the baht was trading between 32.38 and 32.40 baht per dollar this morning, close to the previous day’s closing level of 32.43 baht per dollar. Similar to other Asian currencies, the baht is trading within a narrow range. The dollar’s strength has slightly waned following mixed US economic data, with June j
ob openings falling short of market expectations, whereas July’s consumer confidence index exceeded predictions. The market is also eagerly anticipating signals from the Fed meeting regarding the US interest rate outlook.
Today’s initial estimation for the baht’s movement is between 32.20-32.50 baht per dollar. Key factors to monitor include trade negotiations involving the US and its trading partners, foreign fund flows, global gold price trends, the Thai-Cambodian situation, and US economic figures such as July private sector employment, June pending home sales contracts, and Q2 2025 GDP figures.