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FX Market Outlook EUR/THB

The baht opened at USD/THB 30.00/02, a bit stronger than yesterday’s closing level of USD/THB 30.03/05. The greenback fell on its overnight trade after U.S. jobless claims unexpectedly rose by 26,000 to 436,000.

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The baht opened at USD/THB 30.00/02, a bit stronger than yesterday’s closing level of USD/THB 30.03/05. The greenback fell on its overnight trade after U.S. jobless claims unexpectedly rose by 26,000 to 436,000. The focus is on the U.S. non farm payroll that will come out tonight which could either support or pressure the dollar. The EUR opened at EUR/THB 1.3204/08, stronger than yesterday’s closing level of EUR/THB 1.3189/90. The euro rose on market talk that the European Central Bank (ECB) was buying Portuguese and Irish debt, but there was a bit of disappointment that ECB President Jean-Claude Trichet did not announce a more aggressive policy response to the euro zone debt crisis.

The ECB, moreover, held its rate at 1.0%, as expected. The JPY opened at USD/JPY 83.70/74, stronger than yesterday’s closing level of USD/JPY 84.12/12 after market disappointment over the U.S. jobless claims. At 10.45 a.m., the baht was trading at 30.06/07.

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