I'm not sure how many of the traders here at FF are interested in the Thai Baht, but for those who are, I hope this thread will be useful.
The big picture: You may all be aware of the things that happened in
Thailand at the end of the year with the central bank's exaggerated measures to stop speculation on the Baht. They took a decision on Monday, after the markets closed. After seeing the effects on Tuesday, they started thinking about the decision they already made. Confidence in Thai economy fell. They say they will review the measures taken in mid-January 2007. Long story short this is, if you want more details you can search it on Google news, or read this for example http://nationmultimedia.com/2006/12/...s_30022396.php
Current situation: I'm curious how will the Baht be affected by the bombings that took place in Bangkok on the new year's eve.
The 35 Baht for 1 USD price is a very strong psychological resistance line.
Here are two charts attached, one for the last 10 years and one for the last 6 months.
http://img117.imageshack.us/img117/5...10yearspg8.gif
http://img117.imageshack.us/img117/7...6monthsip3.gif
You can see the price bouncing off the 35 line.
What do you think about the situation in Thailand? How will USD/THB be affected? Thoughts, ideas or even more questions are highly appreciated.
The big picture: You may all be aware of the things that happened in
Thailand at the end of the year with the central bank's exaggerated measures to stop speculation on the Baht. They took a decision on Monday, after the markets closed. After seeing the effects on Tuesday, they started thinking about the decision they already made. Confidence in Thai economy fell. They say they will review the measures taken in mid-January 2007. Long story short this is, if you want more details you can search it on Google news, or read this for example http://nationmultimedia.com/2006/12/...s_30022396.php
Current situation: I'm curious how will the Baht be affected by the bombings that took place in Bangkok on the new year's eve.
QuoteDislikedAnalysts See Blasts Hurting Thai Economy
BANGKOK, Thailand — The terrorist bombings in Bangkok that rang in the New Year dealt a fresh blow to investors' confidence in the Thai economy, already shaken by a year of political turmoil and inept efforts to control the value of the baht, analysts said Monday.
A long holiday weekend provided a short cooling-off period after the Sunday night bombings killed three and injured 38, but weakness in currency and capital markets is expected when trading resumes.
read the rest of the story
The 35 Baht for 1 USD price is a very strong psychological resistance line.
Here are two charts attached, one for the last 10 years and one for the last 6 months.
http://img117.imageshack.us/img117/5...10yearspg8.gif
http://img117.imageshack.us/img117/7...6monthsip3.gif
You can see the price bouncing off the 35 line.
What do you think about the situation in Thailand? How will USD/THB be affected? Thoughts, ideas or even more questions are highly appreciated.