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ING says Thailand's manufacturing output rose 4.8% month-on-month in August but remained 9.3% below a year earlier. It forecasts negative third-quarter GDP growth of -8.2% and expects tourism to stay weak until it returns.
ING raised its end-2020 USD/THB forecast from 31.50 to 32.00.
A weaker economy and a higher USD/THB forecast point to a softer baht, which could raise the cost of imported feed ingredients priced in dollars for Thai buyers.
think.ing.comSep 30, 2020Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
