Bangkok: Kasikorn Research Center forecasts the Thai baht to trade in a range of 32.50-33.20 baht this week, with attention focused on the Middle East and foreign fund flows.
According to Thai News Agency, Kasikorn Research Center predicts the Thai baht to fluctuate within the range of 32.50-33.20 baht per US dollar this week. The Thai stock market is anticipated to have support levels at 1,575-1,550 points. Key factors to watch include the situation in the Middle East, foreign fund flows, and US employment figures.
Kasikorn Research Center reported that last week, the Thai baht gradually weakened, closing on August 28, 2026, at 32.95 baht per dollar, up from 32.68 baht per dollar the previous week. Early in the week, the baht strengthened due to selling pressure on the dollar before reversing to weaken as the dollar recovered, supported by its status as a safe-haven asset following the US announcement of new sanctions against Iran. Towards the end of the week, the baht approached 33.00 baht per dollar, coinciding with profit-taking in gold and a stronger dollar following rising US bond yields. This was driven by better-than-expected July PCE inflation data and jobless claims figures, leading the market to anticipate a Fed interest rate hike before the end of the year. Additionally, the Bank of Thailand's Monetary Policy Committee (MPC) maintained its policy interest rate at 1.00% and signaled a continued accommodative monetary policy to support the Thai economy. Foreign investors were net sellers of Thai stocks totaling 12,228 million baht, and there were net outflows of 375 million baht from the Thai bond market.
For the week of August 31 - September 4, 2026, Kasikorn Bank forecasts the Thai baht to trade within a range of 32.50-33.20 baht per US dollar. Kasikorn Research Center assesses key factors to monitor include Thailand's July current account balance, foreign fund flows, and the situation in the Middle East. Important US economic data includes July job openings and factory orders, ISM and PMI manufacturing/services indices, non-farm payrolls, and the August unemployment rate, weekly jobless claims, and the Federal Reserve's Beige Book report. In addition, markets are awaiting August manufacturing/services PMI indices from China, Japan, the Eurozone, and the UK, as well as Eurozone August inflation figures.
The Thai stock index declined for most of last week amid selling pressure from foreign investors and concerns over the situation in the Middle East following the US announcement of economic sanctions against Iran. This resulted in selling pressure across several sectors, particularly the electronics components sector. Although the index briefly recovered mid-week due to speculative buying in bank stocks ahead of dividend announcements, it weakened again due to selling pressure on energy stocks following falling global oil prices after news of Iran and Oman negotiating a temporary shipping route through the Strait of Hormuz. Selling pressure on large-cap stocks pushed the SET index below 1,600 points towards the end of the week. The market is also awaiting statements from the Federal Reserve Chairman at the Jackson Hole meeting. On August 28, 2026, the SET closed at 1,588.22 points, down 1.58% from the previous week, with an average daily trading volume of 64,812.44 million baht, down 20.92%. The mai index fel l 0.53% to close at 229.06 points.
For the week of August 31 - September 4, 2026, Kasikorn Securities Co., Ltd. projects the Thai stock index to have support levels at 1,575 and 1,550 points, while resistance levels are at 1,605 and 1,630 points, respectively. Kasikorn Research Center assesses key factors to monitor include the situation in the Middle East and the direction of foreign capital flows. Important US economic data includes the ISM/PMI manufacturing and services indices for August, non-farm payrolls and the unemployment rate, as well as weekly jobless claims. Other important international economic factors include the August manufacturing and services PMI indices for China, Japan, the Eurozone, and the UK, as well as the August consumer price index and the July producer price index for the Eurozone.