|
FINANS DAILY |
TREASURY DIVISION
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November 16, 2005 |
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"I want a one-armed economist so that the guy could never make a statement and then say: but on the other
hand...." - Harry S. Truman
FOREX MARKET
On Tuesday, the USD consolidated even more against the euro, as the EUR/USD eroded the 1.1660 support and
moved forward until 1.1638, reaching the lowest level in the last two years. Up today we have the US CPI and
we expect to see a very low reading for October, both core and headline, as oil and gasoline fell off their peak. If
all these readings are low and energy prices are low for two months in a row, the market might begin to question
the intense focus on inflation. On November 16th, the EUR/USD bounced back modestly in a minor reversal
now that it is back above the 1.1700 level. Still, this only opens the way for higher probability of a bit more
upside toward 1.1800. If the pair falls below 1.1650 again, on the other hand, then the downside argument
toward 1.1500 resumes.
On November 15th, there was a rather fussy local forex trading, due to NBR's depo auction which had a
significant impact on the exchange rate. After the sterilization announcement was made, the EUR/RON fell
gradually from 3.6540 to 3.6200, the lowest as the selling orders dominated the trade. However, by the end of
the session, the euro recovered by 150 pips since yesterday's lowest level. On Wednesday, the trading session
was quiet, with no major changes since the opening level of 3.6350, as the EUR/RON climbed until 3.6450, the
most till noon.
MONEY MARKET
The interest rates for the short term deposits increased lately on the inter-bank market, due to the widening of the
amounts sterilized by the NBR. The ON yields stand in the 2-3% area today, however we expect that they will
continue the upward trend sustained by the Central Bank in the coming weeks.
|
Domestic Markets Foreign Exchange Rates |
| �
|
NBR
|
Daily Change
|
Year toDate(%)
|
Annualized
|
|
EUR/RON
|
3.6301
|
-0.0074
|
-8.48%
|
-9.61%
|
|
USD/RON
|
3.1093
|
0.0114
|
6.58%
|
7.54%
|
|
GBP/RON
|
5.3891
|
-0.0186
|
-3.95%
|
-4.49%
|
|
CHF/RON
|
2.3560
|
-0.0071
|
-8.34%
|
-9.45%
|
|
Interbank Market Interest Rates (%) |
| �
|
ON
|
1M
|
6M
|
12M
|
|
BUBID
|
1.38%
|
3.00%
|
3.50%
|
3.63%
|
|
BUBOR
|
3.13%
|
6.72%
|
6.88%
|
7.03%
|
|
LIBOR (EUR)
|
2.09%
|
2.19%
|
2.50%
|
2.70%
|
|
LIBOR (USD)
|
4.10%
|
4.14%
|
4.57%
|
4.83%
|
|
Romanian Equities |
| �
|
Last
|
Daily (%)
|
|
BET
|
6,318.85
|
-0.07%
|
|
BET-C
|
3,780.84
|
-0.10%
|
|
BET-FI
|
39,476.01
|
0.99%
|
|
RASDAQC
|
1,731.04
|
-0.17%
|
|
Romanian Bonds |
|
Maturity
|
Cupon
|
Price
|
Daily (%)
|
Yield
|
|
27-Jun-08
|
10.63%
|
118.07
|
0.32%
|
3.24
|
|
02-Jul-10
|
5.75%
|
108.60
|
0.25%
|
3.68
|
|
06-May-12
|
6.50%
|
126.15
|
0.43%
|
3.84
|
|
22-Jun-15
|
4.125%
|
97.00
|
0.29%
|
4.51
|
|
Romanian State Government Bonds and T-Bills |
|
Latest issues
|
Auction Date
|
Issue Date
|
Maturity Date
|
Avg. Yield
|
|
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
|
-0.38%
|
1,137.50
|
1,245.04
|
|
DJI
|
10,686.44
|
-0.10%
|
10,530.76
|
10,697.17
|
|
NASDAQ
|
2,186.74
|
-0.65%
|
2,037.47
|
2,202.47
|
|
XETRADAX
|
5,110.61
|
0.39%
|
2,090.75
|
5,138.02
|
|
NIKKEI 225
|
14,170.87
|
0.56%
|
10,825.39
|
14,155.06
|
|
International Market Exchange Rates |
|
CURRENCY
|
Latest
|
Daily Change
|
|
EUR/USD
|
1.1713
|
0.10%
|
|
GBP/USD
|
1.7344
|
-0.26%
|
|
USD/CHF
|
1.3182
|
0.10%
|
|
USD/SEK
|
8.2095
|
0.35%
|
|
USD/JPY
|
119.23
|
0.35%
|
|
EUR/USD trading rate |
|
Support
|
�
|
Resistance
|
�
|
|
Sup. 1
|
1.1700
|
Res.1
|
1.1790
|
|
Sup. 2
|
1.1650
|
Res. 2
|
1.1820
|
|
Sup. 3
|
1.1600
|
Res. 3
|
1.1870
|
|
Sup. 4
|
1.1550
|
Res. 4
|
1.1900
|
|
Commodities |
| �
|
Latest
|
Daily (%)
|
|
GOLD
|
471.5
|
0.86%
|
|
SILVER
|
7.81
|
1.17%
|
|
OIL (BRENT)
|
54.02
|
0.80%
|
|
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
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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.
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