CREDIT EUROPE DAILY
"The opinion of the intelligent is better than the certainty of the ignorant." - Egyptian proverb
FOREX MARKET
FOREX MARKET
Players turned reluctant to risk after intensifying geopolitical disturbances which induced a steep rise in oil prices and a
drop in equities prices. The market will be focusing over Bernanke's congressional testimony later today to figure out the
outcome of the Federal Reserve near-term monetary policy. Around mid European session, the EUR/USD is rangebound
in the 1.3320-1.3350 zone.
On March 27th, the single currency was bided at 3.3680 level at the opening of the domestic trade. In early trading, RON
was slightly affected by NBR's recent rate cut, but the move was short-lived as the sellers made their appearance and
gradually pushed the pair down to 3.3550 zone around closing session.
On Wednesday, the forex domestic market opened at 3.3600 zone, but soon sustained buying orders took the pair until
3.3680 level. The euro purchases came mainly from local clients for their end-month payments. It is likely that EUR/RON
would maintain in the 3.3600 area in the last days of the month, but starting April RON is likely to strengthen due to the
Easter remittances.
MONEY MARKET
On Wednesday, the overnight maturities are traded at 6.75/7.75% bids/asks, as interbank market quickly repositioned
after the recent rate cut. On Monday, the National Bank drained back the 2 billion RON which matured the same day, at
the 8% rate.
On March 26th meeting, the National Bank of Romania diminished its monetary policy rate by 50 bps to 7.5%, after a 75
bps cut the month before, taking by surprise most of the market watchers. Analysts had expected that NBR would wait
several months to fully weight in the effects on inflation of the previous cut, before rushing to further easing of the
monetary policy. NBR confirmed once more that their main concern is the exchange rate stability, rather than
consolidation of disinflation process.
|
Domestic Markets Foreign Exchange Rates |
||||
|
NBR |
Daily Change |
Year to Date(%) |
Annualized |
|
|
EUR/RON |
3.3678 |
0.0099 |
-0.41% |
-0.33% |
|
USD/RON |
2.5229 |
-0.0084 |
-1.74% |
-1.41% |
|
GBP/RON |
4.9552 |
-0.0048 |
-2.19% |
-1.77% |
|
CHF/RON |
2.0793 |
0.0063 |
-1.60% |
-1.29% |
|
Interbank Market Interest Rates (%) |
||||
|
ON |
1M |
6M |
12M |
|
|
BUBID |
6.88% |
6.88% |
6.50% |
6.40% |
|
BUBOR |
7.81% |
7.90% |
7.98% |
7.84% |
|
LIBOR(EUR) |
3.83% |
3.87% |
4.03% |
4.16% |
|
LIBOR(USD) |
5.30% |
5.32% |
5.33% |
5.21% |
|
Romanian Equities |
||
|
Last |
Daily (%) |
|
|
BET |
8,552.58 |
-0.61% |
|
BET-C |
5,552.42 |
-0.46% |
|
BET-FI |
58,995.21 |
1.89% |
|
RASDAQ C |
3,135.78 |
0.00% |
|
Romanian Eurobonds |
||||
|
Maturity |
Cupon |
Price |
Daily (%) |
Yield |
|
27-Jun-08 |
10.63% |
107.36 |
0.06% |
4.34 |
|
02-Jul-10 |
5.75% |
104.04 |
-0.07% |
4.38 |
|
06-May-12 |
6.50% |
118.47 |
-0.04% |
4.38 |
|
22-Jun-15 |
4.125% |
95.61 |
-0.44% |
4.78 |
|
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 |
-0.62% |
1,266.74 |
1,459.68 |
|
DJI |
12,397.29 |
-0.58% |
12,461.14 |
12,481.01 |
|
NASDAQ |
2,437.43 |
-0.74% |
2,340.68 |
2,524.94 |
|
XETRA DAX |
6,858.34 |
0.43% |
6,447.70 |
7,027.59 |
|
NIKKEI 225 |
17,254.73 |
-0.64% |
15,557.45 |
18,215.35 |
|
International Market Exchange Rates |
||
|
CURRENCY |
Latest |
Daily Change |
|
EUR/USD |
1.3343 |
0.09% |
|
GBP/USD |
1.3341 |
-32.23% |
|
USD/CHF |
1.2126 |
-0.21% |
|
USD/SEK |
6.9663 |
-0.35% |
|
USD/JPY |
117.29 |
-0.58% |
|
EUR/USD trading rate |
|||
|
Support |
Resistance |
||
|
Sup. 1 |
1.3320 |
Res. 1 |
1.3370 |
|
Sup. 2 |
1.3260 |
Res. 2 |
1.3410 |
|
Sup. 3 |
1.3200 |
Res. 3 |
1.3480 |
|
Sup. 4 |
1.3160 |
Res. 4 |
1.3520 |
|
Commodities |
||
|
Latest |
Daily (%) |
|
|
GOLD |
665.6 |
0.26% |
|
SILVER |
13.29 |
-0.37% |
|
OIL (BRENT) |
64.69 |
-0.28% |
|
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.