Halister News

(Bloomberg) -- Thailand’s import and export growth will continue to decline on a y/y basis, Bloomberg strategist David Finnerty writes.

• Jan. exports are forecast to fall for the 13th straight month and imports for the 11th consecutive month
• Jan. customs exports are expected to decline 6.45% y/y while imports are forecast to fall 8.0% y/y resulting in a trade balance of $213m, according to median est. of economists in Bloomberg survey
  • Data due tomorrow at 10:30 am local time
• At its Feb. 3 meeting the Bank of Thailand left interest rates unchanged, saying that the country’s economy continues to recover gradually, supported mainly by domestic demand
  • This indicates that they seem content that there are currently enough factors offsetting the deteriorating data to avoid the need to lower rates at the moment
• NOTE; David Finnerty is an FX strategist who writes for Bloomberg. The observations he makes are his own and are not intended as investment advice.