|
"I'd rather die of thirst than drink from the cup of mediocrity." - William Shakespeare
FOREX MARKET
The EUR/RON has soared 300 pips on Friday following the outcome of NBR's monetary policy meeting a day before. Investors with
short positions on the EUR/RON had hoped for a monetary policy rate increase. However, the National Bank left the rate unchanged at
8.5% and recent inflation numbers hint that we will not see a change on the upside for the next council meeting as well. As a result of
this new outlook, it seems that numerous short positions have been closed on Friday and the EUR gained consistently throughout the
trading session, from 3.46 to 3.49 the highest and closing at 3.4850.
Today we have had more EUR/RON aggressive buying in morning trading. The market opened at 3.4850 and in less than one hour
surged to 3.53. The market stands at 3.5220 for the moment and we expect the retrace to continue, with 3.51 as support.
Friday's international FX market started with the US dollar knocked down to 1.2950 versus the Euro. Upon opening of the market in
New York the dollar staged a rebound and regained ground to 1.2850. The move was short lived however as bearish consumer
sentiment data took the pair back above 1.2900. Today we have more bad news for the greenback, this time from Asia. In Chinas
managed floating FX regime, the Chinese central bank has allowed the Yuan to strengthen versus a basket of currencies in which the
dollar is best represented. Therefore the USD has lost ground versus all other major currencies and the EUR/USD touched a new 12
months high of 1.2970. Currently we have substantial profit taking, as players have anticipated an important resistance at 1.30 and have
taken the pair to 1.2870.
The overnight interest rates remained in the 8-8.75% zone, although the National Bank refused to drain yesterday the offer of
the commercial banks for the three-month certificates of deposit.
MONEY MARKET
The RON money market has opened 25 basis point lower than Friday, with O/N quotations standing at 7.75/8.75%. Bids have, from
then, slightly increased to 8%, in anticipation of today's NBR depo auction.
|
Domestic Markets Foreign Exchange Rates |
||||
|
NBR |
Daily Change |
Year to Date(%) |
Annualized |
|
|
EUR/RON |
3.4840 |
-3.4659 |
-5.60% |
-4.12% |
|
USD/RON |
2.6950 |
-0.0297 |
-13.51% |
-10.05% |
|
GBP/RON |
5.1130 |
0.0325 |
-4.62% |
-3.39% |
|
CHF/RON |
2.2480 |
0.0270 |
-5.23% |
-3.85% |
|
Interbank Market Interest Rates (%) |
||||
|
ON |
1M |
6M |
12M |
|
|
BUBID |
7.57% |
6.94% |
6.86% |
6.51% |
|
BUBOR |
8.47% |
8.51% |
8.63% |
8.54% |
|
LIBOR (EUR) |
2.61% |
2.65% |
3.07% |
3.36% |
|
LIBOR (USD) |
5.03% |
5.08% |
5.27% |
5.40% |
|
Romanian Equities |
||
|
Last |
Daily (%) |
|
|
BET |
7,430.50 |
0.57% |
|
BET-C |
4,492.65 |
0.67% |
|
BET-FI |
46,830.43 |
0.47% |
|
RASDAQC |
1,722.91 |
0.56% |
|
Romanian Eurobonds |
||||
|
Maturity |
Cupon |
Price |
Daily (%) |
Yield |
|
27-Jun-08 |
10.63% |
113.25 |
0.14% |
3.94 |
|
02-Jul-10 |
5.75% |
105.45 |
0.03% |
4.27 |
|
06-May-12 |
6.50% |
121.17 |
0.08% |
4.39 |
|
22-Jun-15 |
4.125% |
94.01 |
-0.09% |
4.95 |
|
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 |
1,291.24 |
-1.12% |
1,176.84 |
1,325.76 |
|
DJI |
11,380.99 |
-1.04% |
11,400.28 |
11,642.65 |
|
NASDAQ |
2,243.78 |
-1.27% |
2,300.15 |
2,370.88 |
|
XETRADAX |
5,916.28 |
-2.29% |
5,902.58 |
6,140.72 |
|
NIKKEI 225 |
16,486.91 |
-0.69% |
13,106.18 |
17,563.37 |
|
International Market Exchange Rates |
||
|
CURRENCY |
Latest |
Daily Change |
|
EUR/USD |
1.2884 |
0.03% |
|
GBP/USD |
1.8908 |
0.20% |
|
USD/CHF |
1.2026 |
-0.34% |
|
USD/SEK |
7.2774 |
0.20% |
|
USD/JPY |
109.76 |
-0.16% |
|
EUR/USD trading rate |
|||
|
Support |
Resistance |
||
|
Sup. 1 |
1.2850 |
Res. 1 |
1.2970 |
|
Sup. 2 |
1.2820 |
Res. 2 |
1.3000 |
|
Sup. 3 |
1.2780 |
Res. 3 |
1.2910 |
|
Sup. 4 |
1.2680 |
Res. 4 |
1.3100 |
|
Commodities |
||
|
Latest |
Daily (%) |
|
|
GOLD |
715.4 |
-0.67% |
|
SILVER |
14.23 |
-4.11% |
|
OIL (BRENT) |
70.69 |
-1.57% |
|
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.