|
"Don't judge each day by the harvest you reap, but by the seeds you plant." - Robert Louis Stevenson
FOREX MARKET
On lack of important data on Tuesday, the EUR/USD faced a slight correction in the Asian session testing the 1.2660
support, however later the euro rallied back to 1.2780 zone, also triggered by the rumors that Iran might increase the EUR
reserves. The pair committed even higher today, as it climbed until 1.2800 zone, reaching another 12M height. The market
will focus over tonight's FOMC minutes, looking for a confirmation on a halt of the hiking cycle, after the expected
increase of 25pbs to 5% in this meeting. A dovish statement from Fed might set the pair towards 1.2900 area.
The Romanian currency continued to strengthen against the euro on May 9th, as the bids reached until 3.4540 level in early
trading. The information spread in the media indicated that the European Commission might not give a straight
recommendation towards Romania's accession in May, postponing the decision to autumn. The news put downward
pressure over the domestic currency, which depreciated around 100 pips, moving back to 3.4640-3.4680 zone. Later,
Commission's chief Barroso tried to cool down the spirits and affirmed that a decision will be taken on May 16th in either
way: a 2007 accession, postponement to 2008 or there will be specified certain compulsory conditions to join the EU in
2007. From our point of view, the last variant seems more probable. Today, the opening bids stood at 3.4640 level and by
noon the exchange rate moved within 3.4600-3.4700 tight levels.
MONEY MARKET
The overnight interest rates remaind flat in the 8-9% area, as the NBR did not make a CD announcement as expected by the
commercial banks. Tommorow, the market will be focusing on the NBR's statement which is to hold board meeting. We
expect that the National Bank will keep steady the policy rate at 8.5%, as lately the headline inflation has eased.
|
Domestic Markets Foreign Exchange Rates |
||||
|
NBR |
Daily Change |
Year to Date(%) |
Annualized |
|
|
EUR/RON |
3.4648 |
0.0018 |
-6.12% |
-4.55% |
|
USD/RON |
2.7298 |
0.0185 |
-12.39% |
-9.30% |
|
GBP/RON |
5.0636 |
0.0063 |
-5.54% |
-4.12% |
|
CHF/RON |
2.2215 |
0.0000 |
-5.23% |
-3.89% |
|
Interbank Market Interest Rates (%) |
||||
|
ON |
1M |
6M |
12M |
|
|
BUBID |
7.79% |
6.94% |
6.86% |
6.51% |
|
BUBOR |
8.56% |
8.51% |
8.63% |
8.54% |
|
LIBOR (EUR) |
2.58% |
2.64% |
3.05% |
3.33% |
|
LIBOR (USD) |
4.98% |
5.08% |
5.27% |
5.40% |
|
Romanian Equities |
||
|
Last |
Daily (%) |
|
|
BET |
7,354.03 |
-1.35% |
|
BET-C |
4,461.27 |
-1.21% |
|
BET-FI |
47,545.45 |
-1.12% |
|
RASDAQC |
1,716.71 |
-0.19% |
|
Romanian Eurobonds |
||||
|
Maturity |
Cupon |
Price |
Daily (%) |
Yield |
|
27-Jun-08 |
10.63% |
113.23 |
-0.03% |
3.97 |
|
02-Jul-10 |
5.75% |
105.53 |
-0.01% |
4.25 |
|
06-May-12 |
6.50% |
121.30 |
-0.09% |
4.37 |
|
22-Jun-15 |
4.125% |
94.19 |
-0.37% |
4.93 |
|
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 |
1,325.14 |
0.04% |
1,176.84 |
1,325.76 |
|
DJI |
11,639.77 |
0.48% |
11,343.29 |
11,584.00 |
|
NASDAQ |
2,338.25 |
-0.29% |
2,294.23 |
2,370.88 |
|
XETRADAX |
6,140.72 |
0.21% |
5,902.58 |
6,127.98 |
|
NIKKEI 225 |
16,951.93 |
-1.39% |
13,106.18 |
17,563.37 |
|
International Market Exchange Rates |
||
|
CURRENCY |
Latest |
Daily Change |
|
EUR/USD |
1.2787 |
0.79% |
|
GBP/USD |
1.8705 |
0.78% |
|
USD/CHF |
1.2172 |
-1.09% |
|
USD/SEK |
7.2825 |
-0.89% |
|
USD/JPY |
110.79 |
-0.92% |
|
EUR/USD trading rate |
|||
|
Support |
Resistance |
||
|
Sup. 1 |
1.2660 |
Res. 1 |
1.2800 |
|
Sup. 2 |
1.2610 |
Res. 2 |
1.2910 |
|
Sup. 3 |
1.2560 |
Res. 3 |
1.3000 |
|
Sup. 4 |
1.2520 |
Res. 4 |
1.3090 |
|
Commodities |
||
|
Latest |
Daily (%) |
|
|
GOLD |
703.35 |
3.42% |
|
SILVER |
14.52 |
5.14% |
|
OIL (BRENT) |
70.22 |
3.55% |
|
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.