FINANS DAILY
"There are two fools in every market: one asks too little, one asks too much." - Russian proverb
FOREX MARKET
The euro soared to a fresh record high against the yen and further strengthened against the dollar on December 20th, lifted by
Trichet's speech in front of the European Parliament, saying that the rise of prices in the EZ requires immediate action from the
ECB. The market took ECB's presidents testimony as hawkish and drove the euro as high as 1.3240 level. Today, the market
watchers will be awaiting the important data from US, like final GDP readings for Q3 and Philadelphia Fed numbers, to decide
on whether to commit to further shorting on dollar. By mid-European trading, the EUR/USD is quoted in the 1.3200 zone.
On December 20th, the Romanian currency broke the psychological support area at 3.4000 on back of increased interest of offshore
players for emerging markets. The EUR/RON started the session in the 3.4200 zone and stood flat in the 3.4130-3.4180
area in the first half. Unexpectedly, the domestic currency skyrocketed against the euro to four-year record high, reaching
3.3870 level within only two hours. By the end of the session, the domestic currency could not hold the previously made gains
and closed in the 3.3900 zone.
On Thursday, RON continued to rally against the euro and within several minutes from opening time and reached a fresh 4Y
high at 3.3650 level. The sharp appreciation of the RON against the hard currencies took by surprise the market watchers
lately, as expectations pointed for a correction to the upwards at the end of the year. It seems that the recent low interbank
yields for short term RON placements had no echo over the Romanian forex market, as investors took NBR's latest actions as
temporary.
MONEY MARKET
The ON interest rates slipped lower to 0/2% zone, due to NBR's partial sterilization at its last three deposit auctions, leaving
plenty of excess liquidity in the interbank market. It is likely that short term yields will remain steady in this area also, as the
reserve period is approaching the end.
|
Domestic Markets Foreign Exchange Rates |
||||
|
NBR |
Daily Change |
Year to Date(%) |
Annualized |
|
|
EUR/RON |
3.4179 |
-0.0069 |
-7.39% |
-7.59% |
|
USD/RON |
2.5841 |
-0.0163 |
-17.07% |
-17.51% |
|
GBP/RON |
5.0934 |
-0.0099 |
-4.98% |
-5.12% |
|
CHF/RON |
2.1303 |
-0.0071 |
-5.23% |
-5.38% |
|
Interbank Market Interest Rates (%) |
||||
|
ON |
1M |
6M |
12M |
|
|
BUBID |
0.76% |
6.29% |
7.28% |
7.34% |
|
BUBOR |
2.47% |
8.28% |
8.63% |
8.72% |
|
LIBOR (EUR) |
3.63% |
3.67% |
3.82% |
3.97% |
|
LIBOR (USD) |
5.29% |
5.35% |
5.37% |
5.29% |
|
Romanian Equities |
||
|
Last |
Daily (%) |
|
|
BET |
8,050.18 |
0.00% |
|
BET-C |
5,025.08 |
0.00% |
|
BET-FI |
63,011.74 |
0.00% |
|
RASDAQC |
2,355.79 |
0.00% |
|
Romanian Eurobonds |
||||
|
Maturity |
Cupon |
Price |
Daily (%) |
Yield |
|
27-Jun-08 |
10.63% |
108.86 |
-0.17% |
4.34 |
|
02-Jul-10 |
5.75% |
104.50 |
-0.23% |
4.33 |
|
06-May-12 |
6.50% |
119.57 |
-0.23% |
4.32 |
|
22-Jun-15 |
4 125% |
95.94 |
-0.16% |
4.71 |
|
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 |
-0.14% |
1,223.69 |
1,427.09 |
|
DJI |
12,463.87 |
-0.06% |
12,441.27 |
12,471.32 |
|
NASDAQ |
2,427.61 |
-0.08% |
2,375.88 |
2,465.98 |
|
XETRADAX |
6,586.91 |
-0.23% |
6,241.13 |
6,602.41 |
|
NIKKEI 225 |
17,047.83 |
0.22% |
14,218.60 |
17,190.91 |
|
International Market Exchange Rates |
||
|
CURRENCY |
Latest |
Daily Change |
|
EUR/USD |
1.3207 |
-0.05% |
|
GBP/USD |
1.9677 |
-0.20% |
|
USD/CHF |
1.2143 |
0.02% |
|
USD/SEK |
6.8113 |
-0.01% |
|
USD/JPY |
118.33 |
0.18% |
|
EUR/USD trading rate |
|||
|
Support |
Resistance |
||
|
Sup. 1 |
1.3120 |
Res. 1 |
1.3230 |
|
Sup. 2 |
1.3080 |
Res. 2 |
1.3350 |
|
Sup. 3 |
1.3050 |
Res. 3 |
1.3480 |
|
Sup. 4 |
1.3020 |
Res. 4 |
1.3590 |
|
Commodities |
||
|
Latest |
Daily ( %) |
|
|
GOLD |
620.5 |
-0.23% |
|
SILVER |
12.5 |
-1.50% |
|
OIL (BRENT) |
63.97 |
1.49% |
|
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.