The baht weakened to around 33.11-33.13 baht/dollar this morning (09.30) compared to yesterday's closing price of 33.10 baht/dollar. During yesterday's session, the baht reached its weakest level in over a week at 33.15 baht/dollar. Ms. Kanchana Chokpaisansin, Research Manager, Kasikorn Research Center, stated that although the baht continued to weaken in line with other Asian currencies, while the dollar strengthened in line with the increase in US bond yields, supported by the US ISM service sector index, which rose more than the market expected (to 54.9 in September, the highest level since February 2023), the baht's depreciation may be limited as the global gold price gradually benefits from concerns over the Middle East conflict between Israel and Iran, which continues to be tense. For the baht's movement framework today, the initial assessment is 33.00-33.25 baht per dollar, while important factors to monitor include the direction of foreign capital, the situation of gold prices in the world market a nd other currencies in the region, statements from Fed officials, and US economic figures such as non-farm payrolls and the unemployment rate in September. Meanwhile, the gold futures contract on the COMEX (Commodity Exchange) for December delivery closed yesterday (October 3) up $9.50, or 0.36%, to close at $2,679.20/ounce, as tensions in the Middle East boosted buying of gold, a safe asset, while investors closely monitored the release of non-farm payrolls figures for the United States today to gauge the direction of interest rates by the Federal Reserve (Fed). The WTI crude oil contract for November delivery rose $3.61, or 5.15%, to close at $73.71/barrel. The Brent crude oil contract for December delivery rose $3.72, or 5.03%, to close at $77.62/barrel. This is the third consecutive day of adjustment due to the tensions in the Middle East, which are expected to affect the supply of oil in the world market. The latest report is that US President Joe Biden is discussing with Israel about attacking the oil storage facilities of Iran, a major member of OPEC, with a production capacity of 3.2 million barrels/day, or 3% of global oil production. Analysts predict that if the attack affects the Strait of Hormuz and adds a risk premium to the oil price, it will cause the oil price to surge to $200/barrel. Source: Thai News Agency