Published at 03:23 (GMT) 23 Jun
Bangkok Post reported that protest leader Suthep Thaugsuban had been advising General Prayuth on how to unseat the government since 2010, citing comments Suthep made at a fundraising dinner. This suggests that NCPO leader Prayuth had been actively plotting to bring down former PM Yingluck, which could be damaging to the credibility of the military government. Meanwhile, General Prayuth said the military government may increase spending to its planned THB 250bn budget deficit in the FY 2014/15 to boost jobs and raise incomes. He added that government spending will be key to spur economic activity as slow global recovery may hurt exports, private investment and consumption. The NCPO will closely monitor economic measures to prevent recession.
USD/THB fell back into 32.40-45, keeping 32.390 nearest support in view. Below this level will see stronger supports at 32.350/330 coming into play. SETi advanced modestly into midday. BA
Recommended Content
Editors’ Picks
EUR/USD clings to daily gains above 1.0650
EUR/USD gained traction and turned positive on the day above 1.0650. The improvement seen in risk mood following the earlier flight to safety weighs on the US Dollar ahead of the weekend and helps the pair push higher.
GBP/USD recovers toward 1.2450 after UK Retail Sales data
GBP/USD reversed its direction and advanced to the 1.2450 area after touching a fresh multi-month low below 1.2400 in the Asian session. The positive shift seen in risk mood on easing fears over a deepening Iran-Israel conflict supports the pair.
Gold holds steady at around $2,380 following earlier spike
Gold stabilized near $2,380 after spiking above $2,400 with the immediate reaction to reports of Israel striking Iran. Meanwhile, the pullback seen in the US Treasury bond yields helps XAU/USD hold its ground.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
Bitcoin price shows no signs of directional bias while it holds above $60,000. The fourth BTC halving is partially priced in, according to Deutsche Bank’s research.
Week ahead – US GDP and BoJ decision on top of next week’s agenda
US GDP, core PCE and PMIs the next tests for the Dollar. Investors await BoJ for guidance about next rate hike. EU and UK PMIs, as well as Australian CPIs also on tap.