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Thailand Futures Exchange (TFEX) expands on the back of trade war
BANGKOK, 15 September 2019(NNT) – The Thai economy is experiencing a slowdown mostly due to several external factors, particularly the volatile global economy and the ongoing trade war between China and the United States.
The baht has strengthened to a six-year high and it is likely to further appreciate. This is an opportunity for investors to invest in the low-risk Thailand Futures Exchange (TFEX) market.
TFEX has organized a seminar on investment opportunities amid the strengthening baht and fluctuating gold prices. The TFEX Managing Director, Dr. Rinjai Chakornpipat, said this weekend that TFEX has been growing continually since the beginning of the year.
Many investors have expressed their interest in this market, as there are some 400,000 contracts being recorded each day.
Negative factors, such as the trade war and the appreciating Thai currency, have encouraged investors to invest in other markets, including TFEX. In addition, gold prices are likely to increase further and this is considered a low-risk investment.
The Chair Executive Officer (CEO) of YLG Bullion and Futures Company Limited, Tipa Nawawattanasub, said today that gold prices in the world market are projected to increase until the end of this year because of the global economic situation.
The interest rate set by the United States Federal Reserve (Fed) will cause the domestic gold price to stay in the range of 21,300 to 22,300 baht per baht-weight. The baht should stay between 29.50 baht and 31.50 baht per US dollar. However, the Fed is expected to slash its interest annual rate by 0.25 to 0.50%.
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