# Amid bleak US economic scenario, continuous purchases boost baht

> 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.

- Date: 2020-07-31 · published 2020-07-31T12:00:00.000Z
- Category: macro · region Thailand · magnitude low
- Page: https://feedsoft.ai/events/52365-amid-bleak-us-economic-scenario-continuous-purchases-boost-baht
- Commodities: [Thai Baht (THB per USD)](https://feedsoft.ai/c/USDTHB.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A stronger baht erodes the competitiveness of Thai exports and sits within a broad weaker-dollar move that tends to support dollar-priced commodities.

## Read by commodity

- DXY: bearish ▼
- USDTHB: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-03-13 | [Bangkok Post - Baht surges amid US bank collapse](https://feedsoft.ai/events/37135-bangkok-post-baht-surges-amid-us-bank-collapse.md) | +0.3% | -1.6% |
| DXY | 2020-07-24 | [Dollar slump continue on US economic worries, safe-haven yen gains](https://feedsoft.ai/events/52343-dollar-slump-continue-on-us-economic-worries-safe-haven-yen-gains.md) | -0.6% | -1.1% |
| DXY | 2024-06-03 | [Gold rises as soft US economic data spurs Fed rate cut bets](https://feedsoft.ai/events/29638-gold-rises-as-soft-us-economic-data-spurs-fed-rate-cut-bets.md) | +1.2% | +1.9% |
| DXY | 2026-08-24 | [Bangkok Post - Baht set to rise further amid US worries](https://feedsoft.ai/events/18173-bangkok-post-baht-set-to-rise-further-amid-us-worries.md) | +0.6% | +1.1% |
| DXY | 2023-12-28 | [Baht continues to strengthen as gold price rises](https://feedsoft.ai/events/32970-baht-continues-to-strengthen-as-gold-price-rises.md) | +1.0% | +1.8% |

## Sources

- nationthailand.com: https://www.nationthailand.com/in-focus/30392214

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.