USD/THB: Gradual downside bias projected – UOB

UOB economists Enrico Tanuwidjaja and Sathit Talaengsatya note that the Thai Baht’s rally paused in January as a sharp Gold correction disrupted retail Gold markets and generated two-way FX flows. The Bank of Thailand continues to smooth volatility and scrutinize Gold-linked FX.

Forex Today: US Dollar near four-week high ahead of core PCE, GDP and PMI data

The number of United States (US) citizens submitting new unemployment insurance applications decreased to 206K, much lower than initial estimates of 225K, and down from the previous week’s revised 229K, according to the US Department of Labor.

USD/INR: Range trade after India trade data – Commerzbank

Commerzbank’s analysts report that India’s January trade deficit widened sharply to USD 34.7 billion, driven by a 349% surge in Gold imports as global prices rallied.

Metals: Import prices challenge bullish narrative – BNY

BNY’s EMEA Macro Strategist Geoff Yu highlights that industrial metals have failed to reclaim early-year highs and sees little macro support for a rebound.

Thailand: Policy cut case builds – UOB

UOB economists Enrico Tanuwidjaja and Sathit Talaengsatya expect the Bank of Thailand to cut the 1-day repurchase rate by 25 bps to 1.00% at the 25 February MPC meeting and see this as the terminal rate.