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The baht opened at 31.33 per US dollar on July 31, strengthening from 31.44 the prior close. US second-quarter GDP contracted 32.9% annualized, and the dollar index fell to its lowest since May 2018 while WTI slipped to about $40.
A stronger baht erodes the competitiveness of Thai exports and sits within a broad weaker-dollar move that tends to support dollar-priced commodities.
nationthailand.comJul 31, 2020Not enough comparable past events yet for a historical read.
After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.
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.
