FINANS DAILY |
TREASURY DIVISION
|
November 8, 2005 |
|
"Basic economic theory suggests that demand falls as prices go up.But in the case of speculative markets, the
opposite seems to be true." - Marc Faber
FOREX MARKET
Today, the euro tumbled overnight until 1.1706, supposedly on spreading violence in France, however we
consider the EUR/USD move overdone for the short-term soon. It seems that the French riots have become
widespread and violent enough to begin affecting markets - at least that seems to be the reason for the EUR
move overnight, as there was no other apparent catalyst for the big EUR move lower. The short-term action of
EUR/USD is looking a bit overdone on the downside and it is possible that the pair may bounce soon back up
to the 1.1800 area resistance.
The European currency firmed vs. the Ron at the beginning of the week, as there were substantial buying
orders in the market and no sellers. The high demand of euros took the exchange rate until 3.7020, when the
sellers made their appearance and the euro depreciated slightly, as the market closed at around 3.6900 levels.
On November 8th, the opening bids stood at 3.6860, however it seems that today the local currency has
recovered a bit since yesterdays losses.By noon, the exchange rate has stabilized in the 3.6800 area.
MONEY MARKET
The situation on the inter-bank market stays unchanged, as the interest rates for the ON deposits remained in
the 1-1.8% area. We expect that in the medium run, the yields will increase slightly, as expansion of the
lending in the domestic currency will not find enough support in the savings of the population.
Domestic Markets Foreign Exchange Rates |
�
|
NBR
|
Daily Change
|
Year to Date(%)
|
Annualized
|
EUR/RON
|
3.6901
|
0.0238
|
-6.96%
|
-8.10%
|
USD/RON
|
3.1211
|
0.0514
|
5.61%
|
6.59%
|
GBP/RON
|
5.4547
|
0.0320
|
-2.78%
|
-3.25%
|
CHF/RON
|
2.3909
|
0.0160
|
-6.98%
|
-8.12%
|
Interbank Market Interest Rates (%) |
�
|
ON
|
1M
|
6M
|
12M
|
BUBID
|
0.79%
|
1.72%
|
2.88%
|
3.13%
|
BUBOR
|
2.04%
|
5.47%
|
6.69%
|
6.88%
|
LIBOR (EUR)
|
2.10%
|
2.13%
|
2.43%
|
2.63%
|
LIBOR (USD)
|
4.04%
|
4.09%
|
4.53%
|
4.81%
|
Romanian Equities |
�
|
Last
|
Daily (%)
|
BET
|
6,293.94
|
1.31%
|
BET-C
|
3,789.40
|
1.78%
|
BET-FI
|
37,890.78
|
-0.89%
|
RASDAQC
|
1,713.69
|
-0.19%
|
Romanian Bonds |
Maturity
|
Cupon
|
Price
|
Daily (%)
|
Yield
|
10-Nov-05
|
11.50%
|
100.02
|
0.00%
|
0.00
|
27-Jun-08
|
10.63%
|
117.93
|
0.01%
|
3.36
|
02-Jul-10
|
5.75%
|
108.37
|
-0.31%
|
3.74
|
06-May-12
|
6.50%
|
126.18
|
0.06%
|
3.85
|
22-Jun-15
|
4.125%
|
97.16
|
0.18%
|
4.49
|
Romanian State Government Bonds and T-Bills |
Latest issues
|
Auction Date
|
Issue Date
|
Maturity Date
|
Avg. Yield
|
RO0508DBNI22
|
01 August 2005
|
03 August 2005
|
03 August 2008
|
7.60%
|
RO0510DBNI36
|
08 August 2005
|
10 August 2005
|
10 August 2010
|
7.48%
|
RO0515DBN143
|
15 August 2005
|
17 August 2005
|
17 August 2015
|
7.49%
|
RO0508DBN155
|
15 September 2005
|
19 September 2005
|
19 September 2008
|
7.60%
|
RO0505CTN031
|
20 September 2005
|
22 September 2005
|
22 December 2005
|
5.33%
|
International Equities |
�
|
Last
|
Daily Change
|
Year Low
|
Year High
|
S&P500
|
1,151.74
|
0.22%
|
1,137.50
|
1,245.04
|
DJI
|
10,586.23
|
0.53%
|
10,229.95
|
10,530.76
|
NASDAQ
|
2,178.24
|
0.41%
|
2,037.47
|
2,169.43
|
XETRADAX
|
5,024.20
|
0.58%
|
4,808.16
|
5,138.02
|
NIKKEI 225
|
14,036.73
|
-0.18%
|
10,825.39
|
14,075.96
|
International Market Exchange Rates |
CURRENCY
|
Latest
|
Daily Change
|
EUR/USD
|
1.1727
|
-0.72%
|
GBP/USD
|
1.7365
|
-0.78%
|
USD/CHF
|
1.3155
|
0.68%
|
USD/SEK
|
8.1715
|
0.44%
|
USD/JPY
|
117.87
|
-0.03%
|
EUR/USD trading rate |
Support
|
�
|
Resistance |
�
|
Sup. 1
|
1.1705
|
Res. 1
|
1.1740
|
Sup. 2
|
1.1650
|
Res. 2
|
1.1770
|
Sup. 3
|
1.1600
|
Res. 3
|
1.1820
|
Sup. 4
|
1.1550
|
Res. 4
|
1.1870
|
Commodities |
�
|
Latest
|
Daily ( %)
|
GOLD
|
457
|
-0.07%
|
SILVER
|
7.52
|
0.13%
|
OIL (BRENT)
|
58.68
|
-3.76%
|
Interest Rates for Time Deposits of Finansbank (Romania) SA |
�
|
1WK
|
1M
|
3M
|
6M
|
9M
|
12M
|
Minimum Amount
|
USD
|
0.50%
|
3.00%
|
3.50%
|
4.25%
|
4.25%
|
4.50%
|
USD 1,000
|
EUR
|
0.50%
|
3.00%
|
3.50%
|
4.00%
|
4.25%
|
4.25%
|
EUR 1,000
|
RON
|
0.50%
|
4.0%
|
4.5%
|
5.0%
|
5.0%
|
5.50%
|
RON 2,000
|
Released by FINANSBANK Romania S.A., Splaiul Unirii no.12, Bl. B6 040034, Bucharest. For further information please contact Melania Hancila Treasury & Capital Markets Division, Phone 301 73 42, Fax 318 09 61.
Disclaimer: This report does not represent an investment advice and should not be construed as a recommendation to invest in any kind of investment vehicle. The information in the report is based on sources available to the public and believed to be reliable, and there is no claim that is accurate or complete. Thereafter this information can be changed without notice.
Publicat de FINANSBANK Romania S.A., Splaiul Unirii nr.12, Bl. B6 040034, Bucuresti. Pentru mai multe informatii si intrebari, va rugam contactati Departamentul Trezorerie si Piete de capital - Melania Hancila, Telefon: 301 73 42, Fax: 318 09 61.
Acest buletin are scop informativ si nu reprezinta un sfat sau recomandare de a investi in nici un tip de instrument. Informatiile care stau la baza acestui raport zilnic au o sursa publica, considerata sigura insa, nu sustinem ca este completa. Astfel ca informatiile publicate mai sus se pot schimba fara un anunt prealabil. |