CREDIT EUROPE DAILY
"Maturity is the ability to do a job whether or not you are supervised, to carry money without spending it and to
bear an injustice without wanting to get even." - Ann Flanders
FOREX MARKET
On Friday, the greenback was broadly punished by investors as the incoming data continue to fuel worries that the US
economy would undergo a slow down in the next quarters. For now, the market gradually shifted focus from the
interest rate differentials to the US housing sector and the implications for wider economy shock sentiment. Yesterday,
the Philadelphia Fed business activity survey came out worse than expected and poured hot water over the markets.
Therefore, the greenback declined to three-month low against the dollar, even breaking the 1.3300 threshold. In mid-
European forex session, the pair surged until 1.3340 zone, but considering the strength of the rally, the 1.3400
resistance zone seems at risk in the short term.
On March 15th, the Romanian currency opened 50 pips lower in the 3.3700 zone, supported by the recovery of the
regional markets. In the first hour of trading, RON gained 100 pips against the euro, climbing until 3.3600 zone on back
of high off-shore interest. However around noontime, the pair stabilized in the 3.3700 zone, as domestic clients took
advantage of the conveyable exchange rates to purchase the euro for their commercial needs.
On Friday, the domestic forex market opened at 3.3620 level, but remained almost flat in the first half of the session
amid modest traded volumes. The rally of the RON seems overdone by now and it is likely that we would see a slight
upward correction on Monday until 3.3700 zone, although ON interest rates are likely to remain RON supportive.
MONEY MARKET
The overnight interest rates rose even higher on Friday, being traded in the 12/15% zone on the interbank market. The
liquidity of the Romanian money market had gradually diminished lately, on back of sustained draining underwent by
NBR and MF.
|
Domestic Markets Foreign Exchange Rates |
||||
|
NBR |
Daily Change |
Year to (%) |
Annualized |
|
|
EUR/RON |
3.3722 |
-0.0088 |
-0.28% |
-0.23% |
|
USD/RON |
2.5534 |
-0.0089 |
-0.55% |
-0.46% |
|
GBP/RON |
4.9406 |
0.0095 |
-2.47% |
-2.06% |
|
CHF/RON |
2.0919 |
-0.0150 |
-1.00% |
-0.83% |
|
Interbank Market Interest Rates (%) |
||||
|
ON |
1M |
6M |
12M |
|
|
BUBID |
10.56% |
7.88% |
6.69% |
6.51% |
|
BUBOR |
12.75% |
9.25% |
8.03% |
7.88% |
|
LIBOR(EUR) |
3.83% |
3.86% |
4.00% |
4.11% |
|
LIBOR(USD) |
5.36% |
5.32% |
5.31% |
5.19% |
|
Romanian Equities |
||
|
Last |
Daily (%) |
|
|
BET |
8,543.28 |
-0.68% |
|
BET-C |
5,488.22 |
-0.48% |
|
BET-FI |
55,301.39 |
-0.95% |
|
RASDAQ C |
2,962.02 |
0.53% |
|
Romanian Eurobonds |
||||
|
Maturity |
Cupon |
Price |
Daily (%) |
Yield |
|
27-Jun-08 |
10.63% |
107.59 |
-0.03% |
4.31 |
|
02-Jul-10 |
5.75% |
104.31 |
-0.08% |
4.31 |
|
06-May-12 |
6.50% |
119.07 |
0.02% |
4.28 |
|
22-Jun-15 |
4.125% |
96.36 |
0.12% |
4.66 |
|
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&P 500 |
1,318.03 |
0.37% |
1,265.95 |
1,459.68 |
|
DJI |
12,159.68 |
0.22% |
12,075.96 |
12,318.62 |
|
NASDAQ |
2,378.70 |
0.29% |
2,340.68 |
2,524.94 |
|
XETRA DAX |
6,585.47 |
2.14% |
6,447.70 |
7,027.59 |
|
NIKKEI 225 |
16,744.15 |
-0.69% |
15,154.06 |
18,215.35 |
|
International Market Exchange Rates |
||
|
CURRENCY |
Latest |
Daily Change |
|
EUR/USD |
1.3303 |
0.70% |
|
GBP/USD |
1.9398 |
0.37% |
|
USD/CHF |
1.2093 |
-0.75% |
|
USD/SEK |
6.9597 |
-0.91% |
|
USD/JPY |
116.89 |
-0.34% |
|
EUR/USD trading rate |
|||
|
Support |
Resistance |
||
|
Sup. 1 |
1.3120 |
Res. 1 |
1.3200 |
|
Sup. 2 |
1.3090 |
Res. 2 |
1.3230 |
|
Sup. 3 |
1.3070 |
Res. 3 |
1.3260 |
|
Sup. 4 |
1.3020 |
Res. 4 |
1.3280 |
|
Commodities |
||
|
Latest |
Daily (%) |
|
|
GOLD |
647.1 |
0.37% |
|
SILVER |
13 |
1.25% |
|
OIL (BRENT) |
60.89 |
-0.80% |
|
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% |
3.75% |
4.00% |
4.25% |
4.25% |
4.75% |
EUR 1,000 |
|
RON |
3.00% |
7.25% |
7.25% |
7.50% |
7.50% |
7.75% |
RON 2,000 |
Released by Credit Europe Bank Romania S.A.,3rd Nerva Traian Street, Bucharest. For further information please contact Melania Hancila -Treasury & Capital Markets Division, Phone 308 52 66, Fax 318 87 74.
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 Credit Europe Bank Romania S.A., Nerva Traian nr.3, Bucuresti. Pentru mai multe informatitii si intrebari, va rugam contactati Departamentul Trezorerie si Piete de capital - Melania Hancila, Telefon: 308 52 66, Fax: 318 87 74.
Acest buletin are scop informativ si nu reprezintaun 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.