FINANS DAILY
"A good way to change somebody's attitude is to change your own." - anonymous
FOREX MARKET
The US ISM Services and Pending Homes came out quite well, reinforcing the view that the American economy is
undergoing a soft landing, while inflation remains Fed's main concern. Therefore, the market started to price in that Federal
Reserve will be reducing its policy rate at a slower pace than previously expected. As a result, the greenback eroded the
1.3100 support zone and headed for 1.3070 area. On Friday, the EUR/USD is traded in the 1.3070-1.3090 zone, as investors
refrain from taking positions before US Non-farm payrolls and Unemployment rate to be released later today.
On Thursday, the domestic market opened at 3.3570 level and weakened gradually until noon time, probably because of
NBR's last symbolic sterilization action. The low short term interest rates made carry trades unprofitable and induced a
slight depreciation of the RON against the euro, as the pair reached intraday maximum at 3.3850 level.
On December 5th, the Romanian currency was quoted at 3.3800 at the opening time and started a free-fall against the euro
which stopped at 3.4130 level. RON, which once used to be a high yielded currency, attracting substantial foreign inflows,
depreciated against the hard currencies due to NBR's prudent policy and dovish regional mood of investors.
MONEY MARKET
OOn Thursday, the ON interest rates remained flat in the 1/3% zone on Friday, as the Romanian interbank market is flooded
with liquidity since NBR's symbolic open market operations meant to curb RON's sudden appreciation. We expect short
term rates to increase slightly on Monday, at least in the first part of trading, as both NBR and Finance Ministry will be
attracting liquidity from the Romanian interbank market. The Finance Ministry plans to sell treasuries worth RON 5.7bln in
the first semester of 2007 from the overall amount of RON 8bln scheduled for the whole year. On December 8th, the MF
will issue T-bills worth RON 2bln for 1M maturity and RON 0.5bln for 6M maturity.
|
Domestic Markets Foreign Exchange Rates |
||||
|
NBR |
Daily Change |
Year to Date(%) |
Annualized |
|
|
EUR/RON |
3.3834 |
0.0274 |
-0.44% |
-0.43% |
|
USD/RON |
2.5836 |
0.0462 |
-0.09% |
-0.09% |
|
GBP/RON |
5.0195 |
0.0381 |
-0.92% |
-0.90% |
|
CHF/RON |
2.0965 |
0.0178 |
-0.79% |
-0.78% |
|
Interbank Market Interest Rates (%) |
||||
|
ON |
1M |
6M |
12M |
|
|
BUBID |
1.21% |
5.44% |
6.91% |
6.94% |
|
BUBOR |
3.25% |
7.53% |
8.44% |
8.50% |
|
LIBOR (EUR) |
3.61% |
3.63% |
3.87% |
4.03% |
|
LIBOR (USD) |
5.30% |
5.32% |
5.36% |
5.29% |
|
Romanian Equities |
||
|
Last |
Daily (%) |
|
|
BET |
8,460.18 |
0.35% |
|
BET-C |
5,313.25 |
0.66% |
|
BET-FI |
67,106.48 |
-1.00% |
|
RASDAQC |
2,337.62 |
-1.37% |
|
Romanian Eurobonds |
||||
|
Maturity |
Cupon |
Price |
Daily (%) |
Yield |
|
27-Jun-08 |
10.63% |
108.70 |
-0.06% |
4.31 |
|
02-Jul-10 |
5.75% |
104.66 |
0.11% |
4.27 |
|
06-May-12 |
6.50% |
119.72 |
0.20% |
4.27 |
|
22-Jun-15 |
4 125% |
96.82 |
0.57% |
4.58 |
|
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 |
0.12% |
1,223.69 |
1,427.09 |
|
DJI |
12,480.69 |
0.05% |
12,463.15 |
12,510.57 |
|
NASDAQ |
2,453.43 |
1.25% |
2,405.92 |
2,465.98 |
|
XETRADAX |
6,649.28 |
-0.09% |
6,471.74 |
6,681.13 |
|
NIKKEI 225 |
17,091.59 |
-1.51% |
14,218.60 |
17,353.67 |
|
International Market Exchange Rates |
||
|
CURRENCY |
Latest |
Daily Change |
|
EUR/USD |
1.3087 |
-0.39% |
|
GBP/USD |
1.9405 |
-0.27% |
|
USD/CHF |
1.2293 |
0.09% |
|
USD/SEK |
6.9435 |
1.01% |
|
USD/JPY |
118.11 |
-1.05% |
|
EUR/USD trading rate |
|||
|
Support |
Resistance |
||
|
Sup. 1 |
1.3080 |
Res. 1 |
1.3150 |
|
Sup. 2 |
1.3050 |
Res. 2 |
1.3190 |
|
Sup. 3 |
1.3000 |
Res. 3 |
1.3260 |
|
Sup. 4 |
1.2960 |
Res. 4 |
1.3300 |
|
Commodities |
||
|
Latest |
Daily ( %) |
|
|
GOLD |
623.8 |
-0.56% |
|
SILVER |
12.67 |
1.28% |
|
OIL (BRENT) |
53.97 |
-3.66% |
|
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.