Halister News

(Bloomberg) -- If Thai customs exports continue to decline in Feb. as expected, USD/THB may advance to 35.512 in near term, Bloomberg strategist Andrew Robinson writes.

• Median est. in Bloomberg survey has customs exports down 8.70% y/y; they fell 8.91% in Jan., 13th straight month of y/y contraction
  • Ests. for Feb. range from -11.5% to -4.5%
  • Date due at 10:30am local time tomorrow
• Baht has fallen 1.4% vs dollar in past week, worst performer among 12 main Asian currencies
  • Baht is down 0.5% at 35.277 per dollar today
• Jan. exports declined more than median est. of -6.45%, data on Feb. 25 showed; USD/THB little changed that day, closing at 35.680
• Related data may show imports fell 9.90% y/y in Feb. and trade surplus widened to $700m from $238m in Jan., according to separate surveys
• NOTE: Andrew Robinson is an FX strategist who writes for Bloomberg. The observations he makes are his own and are not intended as investment advice