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Thailand's September current account surplus came in at $2.4bn, roughly double consensus, driven by a goods trade surplus near $2bn. Services and income inflows were weaker as slowing visitor arrivals hit tourism receipts.
The baht has lost ground and ended October among Asia's weakest performers, and ING raised its end-2018 USD/THB forecast to 33.6.
A larger current account surplus supports the baht, but weaker tourism and a softer currency raise Thai import costs for feed ingredients priced in dollars. Feed buyers should watch the baht against the dollar for landed costs.
think.ing.comOct 31, 2018Not 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.
