The statement from the BoT's monetary policy meeting, which resulted in a 6-1 vote in favour of unchanged interest rates, notes that "the Thai economy is projected to expand as anticipated, driven by tourism and domestic demand, while overall exports are gradually recovering. Inflation is expected to return to the target range by the end of 2024."
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THe DFA has announced the coupon size of its Sep-26 Schatz
to be opened at its auction tomorrow, July 23, to be at 2.70%. E5bln of that Schatz will be sold.
USDCAD has recovered well from its recent low. However, a short-term bear threat remains present, for now. Recent weakness resulted in a test of 1.3590, the May 16 low and a key support. A clear breach of it would highlight an important technical break and pave the way for an extension lower near-term. Initial firm resistance to watch is 1.3755, the Jul 2 high. Clearance of this level would alter the picture and highlight a bullish development.
AUDUSD prices faded into the Friday close and remain heavy early Monday. Initial firm support has broken at 0.6712, the 20-day EMA and the close below here signals scope for a deeper retracement. The bull trigger is at 0.6799, the Jul 11 high. A break would resume the uptrend and pave the way for a climb towards 0.6839 next, the Jan 2 high. Moving average studies are in a bull-mode set-up highlighting a rising trend over the medium-term.