CREDIT EUROPE DAILY
"A wise man among the ignorant is as a beautiful girl in the company of blind men." - Saadi, Persian poet
FOREX MARKET
On Monday, the domestic forex market opened at 3.3380 level, but shortly after RON underwent a strong rally against
the euro, following the bullish mood in the emerging markets. The off-shore players opened new positions on the RON,
after the Group of Seven officials gave green light for the carry trades. Therefore, sustained selling pushed the pair
down to 3.3260 zone, a one-month high.
On April 17th, the single currency was bided at the 3.3290 level which could not held on and bids fell below yesterday's
low, respectively to 3.3230 level, nearing four-year's peak. We expect that some players would start taking profits at
these levels, mirroring the slight upward move of its regional peers.
The euro consolidated its recent gains against the dollar, staying flat in the 1.3530-1.3550 zone, after Trichet fueled
expectations that ECB would raise the policy rate in June and afterwards until 4.25% level. Furthermore, euro
remained at a historical high against the yen on Tuesday, as the Group of Seven finance officials failed to take position
against JPY's weakens, giving green light for the carry trades. Today, traders will be watching Germany's ZEW survey
as well as the US consumer prices figures and housing starts today to decide whether further purchasing the euro.
MONEY MARKET
On Monday, the ON interest rates recovered to 5.5/6.5% zone, before the National Bank announced the results to the
deposit auction. NBR sterilized RON 2.5bln at the 7.50% fixed interest rate, draining only 25% of the overall offer, after
which the short term rates dropped to 4/6% levels. On April 17th, the ON maturities are traded for 3.5/5.5% bids/asks.
|
Domestic Markets Foreign Exchange Rates |
||||
|
NBR |
Daily Change |
Year to Date(%) |
Annualized |
|
|
EUR/RON |
3.3363 |
-0.0051 |
-1.34% |
-1.04% |
|
USD/RON |
2.4602 |
-0.0102 |
-4.18% |
-3.25% |
|
GBP/RON |
4.9049 |
0.0005 |
-3.18% |
-2.47% |
|
CHF/RON |
2.0294 |
-0.0112 |
-3.96% |
-3.08% |
|
Interbank Market Interest Rates (%) |
||||
|
ON |
1M |
6M |
12M |
|
|
BUBID |
4.81% |
6.57% |
6.61% |
6.52% |
|
BUBOR |
6.19% |
7.50% |
7.83% |
7.78% |
|
LIBOR(EUR) |
3.69% |
3.86% |
4.10% |
4.27% |
|
LIBOR(USD) |
5.34% |
5.32% |
5.37% |
5.35% |
|
Romanian Equities |
||
|
Last |
Daily (%) |
|
|
BET |
8,698.27 |
1.58% |
|
BET-C |
5,860.14 |
1.72% |
|
BET-FI |
64,124.10 |
1.16% |
|
RASDAQ C |
3,742.55 |
0.09% |
|
Romanian Eurobonds |
||||
|
Maturity |
Cupon |
Price |
Daily (%) |
Yield |
|
27-Jun-08 |
10.63% |
106.94 |
-0.02% |
4.46 |
|
02-Jul-10 |
5.75% |
103.66 |
0.03% |
4.48 |
|
06-May-12 |
6.50% |
117.56 |
0.09% |
4.53 |
|
22-Jun-15 |
4.125% |
94.59 |
0.26% |
4.94 |
|
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 |
1.08% |
1,294.02 |
1,459.68 |
|
DJI |
12,720.46 |
0.86% |
12,484.62 |
12,612.13 |
|
NASDAQ |
2,518.33 |
1.06% |
2,340.68 |
2,480.32 |
|
XETRA DAX |
7,338.06 |
1.75% |
6,816.89 |
7,212.07 |
|
NIKKEI 225 |
17,527.45 |
-0.57% |
15,557.45 |
18,215.35 |
|
International Market Exchange Rates |
||
|
CURRENCY |
Latest |
Daily Change |
|
EUR/USD |
1.3536 |
-0.07% |
|
GBP/USD |
1.9914 |
0.19% |
|
USD/CHF |
1.2128 |
-0.06% |
|
USD/SEK |
6.8063 |
-0.41% |
|
USD/JPY |
119.37 |
-0.04% |
|
EUR/USD trading rate |
|||
|
Support |
Resistance |
||
|
Sup. 1 |
1.3530 |
Res. 1 |
1.3580 |
|
Sup. 2 |
1.3480 |
Res. 2 |
1.3620 |
|
Sup. 3 |
1.3440 |
Res. 3 |
1.3680 |
|
Sup. 4 |
1.3400 |
Res. 4 |
1.3700 |
|
Commodities |
||
|
Latest |
Daily (%) |
|
|
GOLD |
687.8 |
0.03% |
|
SILVER |
14.03 |
-0.43% |
|
OIL (BRENT) |
66.94 |
-2.86% |
|
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.