FINANS DAILY
"Teachers open the door, but you must enter by yourself." - Chinese proverb
FOREX MARKET
On December 7th, the European Central Bank raised its policy rate by 25 bps to 3.50%, confirming the expectations of the
market. Trichet's statement revealed concerns towards the boost of lending and higher wages pressure driven by strong
economical growth in the Euro Zone. The ECB revised to downwards the inflation target for 2007 to 2% vs. 2.2%
previously forecasted, on back of easing gas prices. Trichet left the market undecided on the moment the ECB will lift rates
again, however excluded another hike in the first two months of 2007. The market had a limited reaction towards Trichet's
speech, with the EUR/USD being quoted in a tight range between 1.3270-1.3290 levels, as investors are awaiting the release
of US Non-Farm Payrolls today to take position. We see rather upside risk on the dollar in the short term, as the surprising
growth of ADP report increases chances for a rebound in US labour market which would cool down expectations that Fed
would cut rates in the Q1 2007.
On Thursday, the Romanian currency recovered some of the losses posted previously, as the interest of off-shore players did
not fade away, despite NBR's signal at the beginning of the week, meant to smooth RON appreciation to sustainable levels.
The Romanian currency appreciated gradually during the session, from 3.4350 level towards the 3.4200 support zone.
The domestic forex market opened in the 3.4250 zone, with bids climbing up to 3.4310 level, as RON was slightly affected
by dovish regional mood. However, by noontime the domestic currency recovered to opening levels and it is likely to remain
rangebound in the 3.4250-3.4350 zone for the rest of the trading, as players refrain from taking positions before the release
of US job report.
MONEY MARKET
On Friday, the ON maturities are quoted for 7.5/8.5%, almost unchanged from yesterday's levels, as the commercial banks
continue their policy of keeping surplus reserves at NBR at the beginning of the reserve period.
|
Domestic Markets Foreign Exchange Rates |
||||
|
NBR |
Daily Change |
Year to Date(%) |
Annualized |
|
|
EUR/RON |
3.4295 |
-0.0094 |
-7.08% |
-7.54% |
|
USD/RON |
2.5814 |
-0.0086 |
-17.16% |
-18.20% |
|
GBP/RON |
5.0804 |
-0.0079 |
-5.23% |
-5.57% |
|
CHF/RON |
2.1588 |
-0.0066 |
-5.23% |
-5.57% |
|
Interbank Market Interest Rates (%) |
||||
|
ON |
1M |
6M |
12M |
|
|
BUBID |
7.59% |
8.14% |
8.19% |
7.94% |
|
BUBOR |
8.31% |
8.85% |
9.02% |
9.01% |
|
LIBOR (EUR) |
3.30% |
3.62% |
3.74% |
3.83% |
|
LIBOR (USD) |
5.29% |
5.35% |
5.31% |
5.15% |
|
Romanian Equities |
||
|
Last |
Daily (%) |
|
|
BET |
8,080.93 |
1.14% |
|
BET-C |
4,971.26 |
0.66% |
|
BET-FI |
58,163.11 |
-0.79% |
|
RASDAQC |
2,408.60 |
-0.02% |
|
Romanian Eurobonds |
||||
|
Maturity |
Cupon |
Price |
Daily (%) |
Yield |
|
27-Jun-08 |
10.63% |
109.30 |
-0.06% |
4.21 |
|
02-Jul-10 |
5.75% |
105.19 |
-0.21% |
4.14 |
|
06-May-12 |
6.50% |
120.55 |
-0.31% |
4.16 |
|
22-Jun-15 |
4 125% |
95.82 |
-0.35% |
4.73 |
|
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 |
YearHigh |
|
|
S&P500 |
1,318.03 |
-0.40% |
1,223.69 |
1,414.76 |
|
DJI |
12,278.41 |
-0.25% |
12,283.85 |
12,331.60 |
|
NASDAQ |
2,427.69 |
-0.74% |
2,330.79 |
2,465.98 |
|
XETRADAX |
6,413.03 |
0.68% |
6,241.13 |
6,480.05 |
|
NIKKEI 225 |
16,417.82 |
-0.34% |
14,218.60 |
17,291.67 |
|
International Market Exchange Rates |
||
|
CURRENCY |
Latest |
Daily Change |
|
EUR/USD |
1.3275 |
-0.25% |
|
GBP/USD |
1.9612 |
-0.43% |
|
USD/CHF |
1.1966 |
0.25% |
|
USD/SEK |
6.8049 |
0.00% |
|
USD/JPY |
115.35 |
0.41% |
|
EUR/USD trading rate |
|||
|
Support |
Resistance |
||
|
Sup. 1 |
1.3260 |
Res. 1 |
1.3350 |
|
Sup. 2 |
1.3220 |
Res. 2 |
1.3480 |
|
Sup. 3 |
1.2980 |
Res. 3 |
1.3590 |
|
Sup. 4 |
1.2860 |
Res. 4 |
1.3670 |
|
Commodities |
||
|
Latest |
Daily ( %) |
|
|
GOLD |
631.5 |
0.43% |
|
SILVER |
13.82 |
2.07% |
|
OIL (BRENT) |
63.76 |
-0.82% |
|
Interest Rates for Time Deposits of Finansbank (Romania) SA |
|||||||
|
1WK |
1M |
3M |
6M |
9M |
12M |
Minimum Amount |
|
|
USD |
0.50% |
4.25% |
4.50% |
4.75% |
5.00% |
5.50% |
USD 1,000 |
|
EUR |
0.50% |
3.50% |
4.00% |
4.25% |
4.50% |
5.00% |
EUR 1,000 |
|
RON |
3.00% |
7.5% |
8.0% |
8.0% |
8.00% |
8.50% |
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.