Bank of Thailand

Price of Oil Jumps and Dollar Falters

August 5, 2020

Overnight declines in the dollar amount to 1.0% against the Mexican peso, 0.9% versus the Australian dollar, 0.6% relative to the euro, Swiss franc and loonie, 0.5% vis-a-vis the kiwi, yuan and sterling and 0.2% against the yen. The price of WTI oil leaped 3.2%, partly in response to an enormous explosion at the port […] More

Investors Spooked by Faster Proliferation of New Covid-19 Cases in the United States

June 24, 2020

The year-to-date number of reported U.S. infections, 2.424 million, has climbed somewhat more than 36k in the past 24 hours and 216 thousand from a week ago. This has created doubt that economic reopening can proceed as planned, and even supporters of President Trump are starting to lose patience that he has the right stuff […] More

Thailand Gets Another Central Bank Interest Rate Cut

May 20, 2020

The Bank of Thailand has implemented its third 25-basis point policy interest rate cut of 2020 and fifth such move since August 2019. The one-week repo rate now becomes 0.50%. There were three dissenters on the policy-deciding 7-person committee who didn’t want this change. A released statement sets the context for this additional easing: ” […] More

More Central Bank Rate Cuts, Mixed Global Economic Data and a Weaker Dollar

May 20, 2020

The dollar traded down overnight by 1.2% against the peso, 1.0% relative to the kiwi, 0.9% vis-a-vis the Australian dollar, 0.6% versus the Swiss franc, 0.4% against the euro, 0.3% relative to the loonie and 0.1% against sterling. Against the yen, the dollar inched 0.1% higher, but the U.S. currency in trade-weighted terms is close […] More

U.S. Fiscal Deal Gives Stocks Only Brief Lift

March 25, 2020

Today will be a very important day to watch U.S. stocks. There has yet to be two consecutive up sessions since the market peaked in mid-February. The big overnight news was a tentative accord between President Trump and the U.S. senate on a $2 trillion fiscal stimulus, which moves next to a full-senate vote today. […] More

Rate Cuts at the Central Bank of Iceland and The Bank of Thailand

February 5, 2020

The Central Bank of Iceland as expected cut its 7-day term deposit rate by 25 basis points to 2.75%. A total of six 25-bp cuts were enacted during 2019. In a released statement, members of the Monetary Policy Committee cut their projected 2020 growth rate in half  to 0.8%, observing weak exports and tighter financial […] More

Continuing Resurgence of Equities and a Moderately Stronger Dollar, Too

February 5, 2020

Share prices climbed overnight by another 1.3% in China, 1.2% in Japan, 1.4% in Singapore, 1.0% in Indonesia and 0.9% in India and New Zealand. European gains thus far amount to 1.4% in Germany, 1.5% in Spain, 0.9% in France, and 0.6% in Great Britain. In the U.S., the DJIA is 1.1% higher, currently, and […] More

Sliding Into Yearend Mode

December 18, 2019

With the yearend holidays fast approaching, it’s hard to identify overriding themes in financial markets. The dollar is mixed, with rises overnight of 0.4% against sterling, 0.2% relative to the euro and 0.1% against the yuan, no net changes versus the Swiss franc and yen, and dips of 0.3% vis-a-vis the kiwi, 0.2% against the […] More

A Steady Dollar

November 6, 2019

The dollar on balance remains near Tuesday closing levels. Gold is 0.3% firmer. The spate of recent increases in 10-year sovereign debt yields was reversed today with 3-basis point declines in U.S. Treasuries and British gilt yields and a dip of 1 basis point in the 10-year German bund yield. The Japanese 10-year JGB yield, […] More

Dollar Up and Stocks Down as Impeachment Inquiry Opens Against Trump

September 25, 2019

House Speaker Pelosi ended her previous resistance to calls for Trump’s impeachment, raising the political risks to both Democrats and Republicans. The United States and Great Britain, which led the free world’s fight against fascism in the 20th century, are now both enmeshed in constitutional crises. Equities fell overnight by 1.3% in South Korea and […] More

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