|
"Being powerful is like being a lady. If you have to tell people you are - you aren't." - Margaret Thatcher
FOREX MARKET
The EZ PMI (Producer Manufacturing Index) surged above expectations at 56.1 in March revealing recovery prospects
for the Euro Zone economies. Therefore in the near future, the ECB might resort to rate rises, although a hike is not on
the pipeline for this Thursday as there were no signs of a possible hike. On the other hand, the US ISM for March came
in at 55.2 significantly below consensus estimates of 57.7, putting pressure over the dollar. The US Pending Home Sales
for February were out at -0.8% vs. -0.5% expected. Moreover, the uncertainty concerning China seems to also weigh on
the cross, but we have yet to see a follow through in either USDJPY or EURUSD. There seems to be enough incentives
for a break of the strong 1.2210 resistance today and rally until 1.2250 level.
In the first days of this week, we could notice a slight appreciation of the RON, as it has been over-sold lately in line with
the rest of the currencies belonging to the emerging markets. On Monday, the European currency rallied until 3.5200
level which gave scope for substantial selling orders pushing the exchange rate until 3.5050. On April 4th, the starting
quotes stood in the 3.5100 zone, which became pivot for the pair as the bids ranged less than 50 pips until noon in calm
trading. We expect no major moves on the forex Romanian market in the days to come as the pair is likely to remain
rangebound in the 3.5000-3.5200 area.
MONEY MARKET
As we expected, the commercial banks participated with a modest amount to the one-month deposit auction held by
NBR on Monday. The National Bank drained the whole offer of RON 621mln at the fixed 8.5% intervention rate. The
ON interest rates remained unchanged in the 8-9% area, same as last week.
Starting March 23rd, Finansbank has hiked again its interest rates, offering for several maturities the best yields in the
market both for RON and EUR deposits.
|
Domestic Markets Foreign Exchange Rates |
||||
|
NBR |
Daily Change |
Year to Date(%) |
Annualized |
|
|
EUR/RON |
3.5121 |
-0.0089 |
-4.84% |
-3.87% |
|
USD/RON |
2.9142 |
0.0063 |
-6.48% |
-5.19% |
|
GBP/RON |
5.0309 |
-0.0197 |
-6.15% |
-4.92% |
|
CHF/RON |
2.2231 |
-0.0065 |
-5.23% |
-4.18% |
|
Interbank Market Interest Rates (%) |
||||
|
ON |
1M |
6M |
12M |
|
|
BUBID |
7.48% |
6.94% |
6.86% |
6.51% |
|
BUBOR |
8.59% |
8.51% |
8.63% |
8.54% |
|
LIBOR (EUR) |
2.60% |
2.64% |
2.99% |
3.25% |
|
LIBOR (USD) |
4.81% |
4.83% |
5.14% |
5.29% |
|
Romanian Equities |
||
|
Last |
Daily (%) |
|
|
BET |
7,509.73 |
-0.36% |
|
BET-C |
4,470.35 |
-0.13% |
|
BET-FI |
46,148.52 |
-0.93% |
|
RASDAQC |
1,712.21 |
-0.26% |
|
Romanian Eurobonds |
||||
|
Maturity |
Cupon |
Price |
Daily (%) |
Yield |
|
27-Jun-08 |
10.63% |
114.22 |
0.00% |
3.81 |
|
02-Jul-10 |
5.75% |
106.45 |
-0.06% |
4.05 |
|
06-May-12 |
6.50% |
122.87 |
-0.11% |
4.16 |
|
22-Jun-15 |
4.125% |
98.73 |
2.51% |
4.70 |
|
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% |
|
International Equities |
||||
|
Last |
Daily Change |
Year Low |
Year High |
|
|
S&P500 |
1,297.81 |
0.23% |
1,176.84 |
1,307.25 |
|
DJI |
11,144.94 |
0.32% |
11,109.32 |
11,317.43 |
|
NASDAQ |
2,336.74 |
-0.13% |
2,249.72 |
2,340.82 |
|
XETRADAX |
6,024.05 |
0.90% |
5,804.92 |
5,984.19 |
|
NIKKEI 225 |
17,292.91 |
-0.23% |
12,291.73 |
17,333.31 |
|
Commodities |
||
|
Latest |
Daily (%) |
|
|
GOLD |
585.9 |
0.21% |
|
SILVER |
11.7 |
0.60% |
|
OIL (BRENT) |
67.52 |
1.84% |
|
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% |
3.25% |
3.75% |
4.25% |
4.50% |
4.50% |
EUR 1,000 |
|
RON |
2.00% |
6.5% |
7.5% |
7.5% |
7.75% |
8.00% |
RON 2,000 |
|
International Market Exchange Rates |
||
|
CURRENCY |
Latest |
Daily Change |
|
EUR/USD |
1.2133 |
0.71% |
|
GBP/USD |
1.7398 |
0.65% |
|
USD/CHF |
1.3040 |
-0.65% |
|
USD/SEK |
7.7337 |
-1.24% |
|
USD/JPY |
117.71 |
-0.77% |
|
EUR/USD trading rate |
|||
|
Support |
Resistance |
||
|
Sup. 1 |
1.2170 |
Res. 1 |
1.2210 |
|
Sup. 2 |
1.2120 |
Res. 2 |
1.2260 |
|
Sup. 3 |
1.2080 |
Res. 3 |
1.2300 |
|
Sup. 4 |
1.2030 |
Res. 4 |
1.2320 |
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.