Its been a quiet week in terms of economic news and events, which is perhaps why markets have just been in a lull globally without major movements either way.

Positives:

1. Thai government keeps VAT at 7% for another 2 years
2. The transportation ministry will submit the Motorway project valued at Bt 114 bn to the cabinet
3. US housing market continues to improve

Negatives:

1. Red shirts amass outside Thailand’s constitution courts awaiting bail decision (which in the end was postponed)
2. Thai Agriculture Ministry cut its growth forecast for this year from 4.5%-5.5% to 3.8%-4.8%
3. Euro crisis has a strong negative impact on Thailand’s exports