Bangkok:The Thai baht opened stronger today at 33.58 baht as the situation in the Middle East pushes oil prices higher.

According to Thai News Agency, this morning, the Thai baht strengthened slightly to approximately 33.58 to 33.60 baht per dollar, driven by net buying of Thai bonds by foreign investors. However, downward pressure from the tense situation in the Middle East still needs to be closely monitored.

Kasikorn Research Center revealed that although the Thai baht opened stronger than the previous day's closing level of 33.63 baht per dollar, it is expected to remain volatile during the day. The unrest in the Strait of Hormuz and the Houthi attack on Saudi Arabia have pushed Brent crude oil prices in the global market back above $110 per barrel this morning.

Furthermore, the Thai baht is expected to trade within a range of 33.50 to 33.65 baht per dollar today. Key factors that the capital markets need to closely monitor include the conflict situation in the Middle East, the direction of crude oil prices, the direction of gold prices, and the weekly US jobless claims report.