|
"Courage is not the absence of fear, but rather the judgment that something else is more important than fear." - Ambrose
Redmoon
FOREX MARKET
On Monday, there was a strong rally of the euro until 1.2690 area, as the market switched interest from interest rates
differentials to the global imbalances of US. However, in late trading, the greenback fund some support in
Bernanke's comments on CNBC, as he stressed up that Feds policy would remain data dependent. Shortly after, the
pair fell to 1.2555 zone, but this bearish move shall not last, as most market watchers expect that Fed would halt the
hiking cycle and even to start cutting the interest rates later in 2006. We expect the 1.2700 resistance to hold up
today, but medium term trend is certainly to the upside.
The domestic forex market has faced a correction shortly after the Easter holiday, when the RON appreciated
strongly on back of occasional foreign inflows. On Friday, the single currency climbed until 3.4765 level, however it
seems to lack steam. On May 2nd, the opening bids stood at 3.4740 and remained still in the same zone until noon in
dormant trading. Although the pair seems to follow an upward trend, the move shall be smooth. The players are
prudent before the EC report on Romania to be released on May 16th, however we do not expect major influence on
EUR/RON as the accession of Romania is already priced in by investors.
MONEY MARKET
The ON interest rates remained flat in the 8-9% zone, as the commercial banks expect a full sterilization from the
National Bank on Tuesday.
|
Domestic Markets Foreign Exchange Rates |
||||
|
NBR |
Daily Change |
Year to Date(%) |
Annualized |
|
|
EUR/RON |
3.4743 |
-0.0006 |
-5.87% |
-4.43% |
|
USD/RON |
2.7674 |
-0.0265 |
-11.19% |
-8.51% |
|
GBP/RON |
5.0055 |
0.0182 |
-6.62% |
-5.01% |
|
CHF/RON |
2.2099 |
0.0120 |
-5.23% |
-3.95% |
|
Interbank Market Interest Rates (%) |
||||
|
ON |
1M |
6M |
12M |
|
|
BUBID |
7.74% |
6.94% |
6.86% |
6.51% |
|
BUBOR |
8.58% |
8.51% |
8.63% |
8.54% |
|
LIBOR (EUR) |
2.66% |
2.66% |
3.03% |
3.32% |
|
LIBOR (USD) |
4.94% |
5.04% |
5.22% |
5.33% |
|
Romanian Equities |
||
|
Last |
Daily (%) |
|
|
BET |
7,513.90 |
0.30% |
|
BET-C |
4,558.12 |
0.34% |
|
BET-FI |
47,178.92 |
0.00% |
|
RASDAQC |
1,732.95 |
-0.21% |
|
Romanian Eurobonds |
||||
|
Maturity |
Cupon |
Price |
Daily (%) |
Yield |
|
27-Jun-08 |
10.63% |
113.10 |
-0.35% |
4.10 |
|
02-Jul-10 |
5.75% |
105.61 |
-0.15% |
4.24 |
|
06-May-12 |
6.50% |
121.63 |
-0.07% |
4.33 |
|
22-Jun-15 |
4.125% |
95.02 |
0.14% |
4.87 |
|
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 |
1,305.19 |
-0.35% |
1,176.84 |
1,311.56 |
|
DJI |
11,343.29 |
-0.34% |
11,268.77 |
11,382.51 |
|
NASDAQ |
2,304.79 |
-1.71% |
2,262.04 |
2,370.88 |
|
XETRADAX |
6,009.89 |
-0.95% |
5,901.25 |
6,107.12 |
|
NIKKEI 225 |
17,153.77 |
1.46% |
12,834.25 |
17,563.37 |
| International Market Exchange Rates | ||
|
CURRENCY |
Latest |
Daily Change |
|
EUR/USD |
1.2558 |
0.25% |
|
GBP/USD |
1.8207 |
1.11% |
|
USD/CHF |
1.2447 |
-1.25% |
|
USD/SEK |
7.4046 |
-0.12% |
|
USD/JPY |
113.88 |
-0.44% |
|
EUR/USD trading rate |
|||
|
Support |
Resistance |
||
|
Sup. 1 |
1.2550 |
Res. 1 |
1.2650 |
|
Sup. 2 |
1.2430 |
Res. 2 |
1.2690 |
|
Sup. 3 |
1.2380 |
Res. 3 |
1.2820 |
|
Sup. 4 |
1.2320 |
Res. 4 |
1.2910 |
|
Commodities |
||
|
Latest |
Daily (%) |
|
|
GOLD |
655.5 |
2.73% |
|
SILVER |
13.78 |
8.50% |
|
OIL (BRENT) |
73.91 |
2.07% |
|
Interest Rates for Time Deposits of Finansbank (Romania) SA |
|||||||
|
1WK |
1M |
3M |
6M |
9M |
12M |
Minimum Amount |
|
|
USD |
0.50% |
3.00% |
3.75% |
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.