Thai Baht Steadies After Below-Consensus Export Data – Commerzbank
Commerzbank notes Thailand's May exports rose 10.6% year-on-year, missing consensus and sharply slowing from April's 23.1% growth, though capital inflows are supporting the baht. The government projects 8% export expansion for 2026 on front-loading.
Commerzbank's Thailand desk reports that May exports climbed 10.6% year-on-year, falling short of market expectations and decelerating from April's strong 23.1% pace. Agricultural shipments were weak, but electronics remained resilient.
Despite the miss, the Thai baht has stabilized thanks to capital inflows. The government forecasts export growth of 8% in 2026, partly driven by front-loading of orders.
The data suggests the baht may remain range-bound near current levels in the near term, supported by inflows but capped by lingering export headwinds.
Source: FXStreet Forex News