|
"The elements of good trading are cutting losses, cutting losses and cutting losses." - Ed Seykota
FOREX MARKET
The Euro appreciated yesterday versus the RON for the first time after five trading sessions. The market opened at 3.49 and, with the
3.5 support already out since the previous close, the RON initially gained ground to 3.4860, the days low. Afterwards, due to what
might have been NBR propping the Euro through a commercial bank, the EUR/RON climbed back above 3.5 to 3.5030. The day closed
with the pair at 3.4980.
Today the EUR/RON opened at 3.4980. With the RON yields surging, sellers made their presence felt and in a matter of minutes the
market fell to as low as 3.4880. Yesterdays scenario repeated however and the pair has been pushed back above 3.5, with the market
currently stable at 3.5010. As both commercial banks and investors alike have a strong interest to sell the EUR/RON at the current rate
differential, the Central Bank buying the pair through a commercial bank is the most likely explanation for Euro resilience to fall to
3.48 today.
In US trading yesterday, the EUR/USD has been faced with a tame yearly inflation figure for the US economy in 2005, 4.0%. As
investors had envisaged a higher figure which would have prompted the Fed to be more hawkish on dollar interest rates, the USD was
sold from 1.1870 to as high as 1.1920. The pair remains to this hour in the 1.1850-1.1930 range, and a break on either side can lead to a
more extended technical move.
MONEY MARKET
On the last day of the current minimum reserve period, there has been a rush for RON resources across the inter-bank money market.
From 11/13% yields yesterday, borrowers asked today as much as 30% to place RON on O/N deposits. Uncertainty and lack of
liquidity in the market lead to very large spreads, and quotes stand at 15/25%. We expect a significant downward adjustment tomorrow,
as the new reserve period starts.
On February 16th, Finansbank has increased the interest rates offered for RON deposits, which now represent one of the most
attractive yields on the market.
|
Domestic Markets Foreign Exchange Rates |
||||
|
NBR |
Daily Change |
Year to Date(%) |
Annualized |
|
|
EUR/RON |
3.5045 |
0.0091 |
-5.05% |
-4.41% |
|
USD/RON |
2.9505 |
0.0173 |
-5.31% |
-4.64% |
|
GBP/RON |
5.1352 |
0.0186 |
-4.20% |
-3.67% |
|
CHF/RON |
2 2489 |
0.0069 |
-5.23% |
-4.57% |
|
Interbank Market Interest Rates (%) |
||||
|
ON |
1M |
6M |
12M |
|
|
BUBID |
8.54% |
7.16% |
6.38% |
6.21% |
|
BUBOR |
11.41% |
8.76% |
8.51% |
8.35% |
|
LIBOR (EUR) |
2.35% |
2.49% |
2.72% |
2.88% |
|
LIBOR (USD) |
4.55% |
4.57% |
4.94% |
5.10% |
|
Romanian Equities |
||
|
Last |
Daily (%) |
|
|
BET |
8,038.88 |
0.70% |
|
BET-C |
4,744.03 |
0.87% |
|
BET-FI |
49,833.06 |
-0.72% |
|
RASDAQC |
1,777.29 |
0.46% |
|
Romanian Eurobonds |
||||
|
Maturity |
Cupon |
Price |
Daily (%) |
Yield |
|
27-Jun-08 |
10.63% |
115.81 |
0.01% |
3.42 |
|
02-Jul-10 |
5.75% |
108.05 |
0.09% |
3.70 |
|
06-May-12 |
6.50% |
125.45 |
0.06% |
3.80 |
|
22-Jun-15 |
4.125% |
98.80 |
0.26% |
4.28 |
|
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 |
1,292.67 |
0.75% |
1,176.84 |
1,294.18 |
|
DJI |
11,137.17 |
0.62% |
10,892.32 |
11,120.68 |
|
NASDAQ |
2,283.17 |
0.89% |
2,239.81 |
2,331.36 |
|
XETRADAX |
5,862.06 |
1.05% |
5,649.60 |
5,801.04 |
|
NIKKEI 225 |
16,096.10 |
1.99% |
11,659.84 |
16,747.76 |
|
International Market Exchange Rates |
||
|
CURRENCY |
Latest |
Daily Change |
|
EUR/USD |
1.1910 |
0.01% |
|
GBP/USD |
1.7451 |
0.02% |
|
USD/CHF |
1.3108 |
0.15% |
|
USD/SEK |
7.8939 |
0.19% |
|
USD/JPY |
117.60 |
-0.81% |
|
EUR/USD trading rate |
|||
|
Support |
Resistance |
||
|
Sup. 1 |
1.1850 |
Res. 1 |
1.1930 |
|
Sup. 2 |
1.1800 |
Res. 2 |
1.1970 |
|
Sup. 3 |
1.1720 |
Res. 3 |
1.2020 |
|
Sup. 4 |
1.1640 |
Res. 4 |
1.2050 |
|
Commodities |
||
|
Latest |
Daily (%) |
|
|
GOLD |
551.5 |
-0.52% |
|
SILVER |
9.51 |
-0.83% |
|
OIL (BRENT) |
57.75 |
-1.10% |
|
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 |
2.00% |
6.5% |
7.0% |
7.0% |
7.0% |
7.50% |
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.