Thailand's current account probably remained in surplus in May

Thailand will release May current account data on 30 June. The current account is expected to have remained in surplus, despite the seasonal effect of dividend repatriation by global corporates based in Thailand. A surplus of c.USD 1,200mn is expected, a modest improvement from USD 1,113mn in April. 

The current account has been in surplus since October 2014, mainly due to a strong recovery in the tourism sector and lower oil prices. 

"We expect the surplus to soften on a likely increase in oil in H2-2015", said Standard Chartered in a report on Monday.