CREDIT EUROPE DAILY
"Pride is something we have. Vanity is something others have." - anonymous
FOREX MARKET
On April 4th, the Romanian currency widened its rally against the euro, as the Easter celebrations attracted substantial
amounts of hard currencies in the country. Sustained sell-off in euro drove bids down to 3.3290 zone in late domestic
trading, as individuals purchased the domestic currency for consumption needs. Also, RON benefited from the
improvement of foreign investors towards emerging markets, especially that RON still holds a positive yield differential
to its regional peers.
On Thursday, the domestic market opened in the 3.3300 zone, but in less than one hour the selling pressure prevailed
and pushed the bids down to 3.3270 zone. However, towards noontime, the euro gained around 50 pips, weakened by
mixed regional mood of off-shore investors and stabilized in the 3.3330 zone.
The greenback came under pressure on Wednesday, after the US ISM data came out worse than expected. The
Service sector slowed down to a four-year low in March and fueled expectations that Fed would resort to rate cuts later
this year. Therefore, the EUR/USD rallied up to 1.3380 zone yesterday. On Tuesday, the pair is traded in the 1.3360
area in mid-European session, as investors seem reluctant in taking new positions ahead of Friday's Non-Farm
Payrolls.
MONEY MARKET
On Thursday, the ON maturities are traded in the 7.3/7.7% zone, as liquidity remains high. Today, the Minster of
Finance will issue five-year benchmark bonds carrying a coupon rate of 6.5% and the issued amount stands at RON
1.5bln. We expect that the auction would be oversubscribed, as the interest for Romanian treasury bills remains high.
|
Domestic Markets Foreign Exchange Rates |
||||
|
NBR |
Daily Change |
Year to (%) |
Annualized |
|
|
EUR/RON |
3.3373 |
-0.0046 |
-1.31% |
-1.04% |
|
USD/RON |
2.4992 |
-0.0034 |
-2.66% |
-2.12% |
|
GBP/RON |
4.9368 |
-0.0083 |
-2.55% |
-2.03% |
|
CHF/RON |
2.0481 |
-0.0050 |
-3.08% |
-2.45% |
|
Interbank Market Interest Rates (%) |
||||
|
ON |
1M |
6M |
12M |
|
|
BUBID |
7.06% |
6.94% |
6.63% |
6.48% |
|
BUBOR |
7.86% |
7.88% |
7.91% |
7.78% |
|
LIBOR(EUR) |
3.85% |
3.86% |
4.07% |
4.20% |
|
LIBOR(USD) |
5.32% |
5.32% |
5.34% |
5.24% |
|
Romanian Equities |
||
|
Last |
Daily (%) |
|
|
BET |
8,544.11 |
-0.36% |
|
BET-C |
5,706.47 |
0.76% |
|
BET-FI |
58,924.65 |
1.42% |
|
RASDAQ C |
3,441.55 |
1.12% |
|
Romanian Eurobonds |
||||
|
Maturity |
Cupon |
Price |
Daily (%) |
Yield |
|
27-Jun-08 |
10.63% |
107.11 |
-0.04% |
4.42 |
|
02-Jul-10 |
5.75% |
103.92 |
0.02% |
4.41 |
|
06-May-12 |
6.50% |
118.06 |
-0.02% |
4.44 |
|
22-Jun-15 |
4.125% |
95.37 |
0.06% |
4.82 |
|
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 |
0.11% |
1,292.99 |
1,459.68 |
|
DJI |
12,530.05 |
0.16% |
12,354.35 |
12,510.30 |
|
NASDAQ |
2,458.69 |
0.34% |
2,340.68 |
2,524.94 |
|
XETRA DAX |
7,073.91 |
0.40% |
6,579.87 |
7,045.56 |
|
NIKKEI 225 |
17,491.42 |
-0.30% |
15,557.45 |
18,215.35 |
|
International Market Exchange Rates |
||
|
CURRENCY |
Latest |
Daily Change |
|
EUR/USD |
1.3359 |
0.21% |
|
GBP/USD |
1.9747 |
0.06% |
|
USD/CHF |
1.2206 |
-0.10% |
|
USD/SEK |
6.9573 |
-0.81% |
|
USD/JPY |
118.72 |
-0.12% |
|
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 |
673.1 |
1.28% |
|
SILVER |
13.6 |
1.64% |
|
OIL (BRENT) |
69.13 |
0.13% |
|
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.