|
"Character is like a tree and reputation like a shadow. The shadow is what we think of it; the tree is the real thing. " -
Abraham Lincoln
FOREX MARKET
On April 4th, the European currency started a strong rally, as the exchange rate broke the 1.2210 resistance level and
surged until 1.2285, the most, which hadn�t been reached since January 25th. The aggressive move developed
yesterday opens the way for a medium term bullish bias. We expect the resistance at 1.2320 to hold these two days
and a break of the support at 1.2210 signals a fall towards 1.2140. This scenario might take place before the upwards
move resumes and erodes the 1.2320 resistance on Thursday whether the ECB confirms the expectations of the
market regarding a rate hike on May. For the moment, the EUR/USD consolidates in the 1.2240-1.2280 area, as the
players need more clues to open higher long positions on the euro. The big question now is whether or not the US
non-farm on Friday will give any indication of inflation pressures.
The RON ended weaker on Tuesday at 3.5160, on back of profit taking of the investors in emerging countries, which
has been felt on the equity market as well. On April 5th, the euro rose higher to 3.5260, gaining around 100 pips
since morning. We favour that the 3.5300 resistance should hold this week, as the high short term interest raters for
the RON deposits are likely to offer support for the domestic currency.
MONEY MARKET
The overnight interest rates remained in the 8-9% area on Wednesday, as the liquidity of the Romanian money
market has restrained lately.
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 |
3.5155 |
0.0034 |
-4.75% |
-3.79% |
|
USD/RON |
2.8866 |
-0.0276 |
-7.36% |
-5.89% |
|
GBP/RON |
5.0391 |
0.0082 |
-6.00% |
-4.79% |
|
CHF/RON |
2.2227 |
-0.0004 |
-5.23% |
-4.17% |
|
Interbank Market Interest Rates (%) |
||||
|
ON |
1M |
6M |
12M |
|
|
BUBID |
7.31% |
6.94% |
6.86% |
6.51% |
|
BUBOR |
8.46% |
8.51% |
8.63% |
8.54% |
|
LIBOR (EUR) |
2.60% |
2.64% |
2.99% |
3.26% |
|
LIBOR (USD) |
4.80% |
4.83% |
5.16% |
5.31% |
|
Romanian Equities |
||
|
Last |
Daily (%) |
|
|
BET |
7,350.30 |
-2.12% |
|
BET-C |
4,380.90 |
-2.00% |
|
BET-FI |
45,807.31 |
-0.74% |
|
RASDAQC |
1,710.35 |
-0.11% |
|
Romanian Eurobonds |
||||
|
Maturity |
Cupon |
Price |
Daily (%) |
Yield |
|
27-Jun-08 |
10.63% |
114.10 |
-0.11% |
3.84 |
|
02-Jul-10 |
5.75% |
106.39 |
-0.06% |
4.06 |
|
06-May-12 |
6.50% |
122.75 |
-0.10% |
4.18 |
|
22-Jun-15 |
4.125% |
95.57 |
-3.20% |
4.72 |
|
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 |
1,305.93 |
0.63% |
1,176.84 |
1,307.25 |
|
DJI |
11,203.85 |
0.53% |
11,109.32 |
11,317.43 |
|
NASDAQ |
2,345.36 |
0.37% |
2,249.72 |
2,340.82 |
|
XETRADAX |
6,013.85 |
-0.17% |
5,855.16 |
6,024.05 |
|
NIKKEI 225 |
17,243.98 |
-0.28% |
12,291.73 |
17,333.31 |
|
International Market Exchange Rates |
||
|
CURRENCY |
Latest |
Daily Change |
|
EUR/USD |
1.2265 |
1.09% |
|
GBP/USD |
1.7592 |
1.12% |
|
USD/CHF |
1.2866 |
-1.33% |
|
USD/SEK |
7.6389 |
-1.23% |
|
USD/JPY |
116.81 |
-0.76% |
|
EUR/USD trading rate |
|||
|
Support |
Resistance |
||
|
Sup. 1 |
1.2240 |
Res. 1 |
1.2280 |
|
Sup. 2 |
1.2205 |
Res. 2 |
1.2320 |
|
Sup. 3 |
1.2180 |
Res. 3 |
1.2360 |
|
Sup. 4 |
1.2150 |
Res. 4 |
1.2400 |
|
Commodities |
||
|
Latest |
Daily (%) |
|
|
GOLD |
584.3 |
-0.27% |
|
SILVER |
11.63 |
-0.60% |
|
OIL (BRENT) |
66.2 |
-1.95% |
|
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 |
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.