CREDIT EUROPE DAILY
"I have had dreams and I have had nightmares, but I have conquered my nightmares because of my dreams." -
Dr. Jonas Salk
FOREX MARKET
On Wednesday, the Romanian market opened in the 3.3260 zone, which was quite well priced in as the bids remained
within this zone, falling less than 30 pips in early trading. However, starting noon, the pair reversed its move to the upside
until 3.3315 level, as political turmoil might have cooled down the appetite of investors for RON.
On April 19th, the single currency was bided at 3.3310 level, which we expect to be intraday low, as the pair might face
an upward correction. In the first hours of trading, EUR/RON rose up to 3.3385 level, as some of the foreign investors
decided to cash in their profits. Considering the uncertainties floating over Romania, the recent dovish mood of investors
over the region, corroborated with the low domestic short term interest rates, it is most likely that RON would depreciate
in the coming days.
The dollar recovered slightly against the euro, despite easing inflationary pressures and worsening mortgage market in
US. JPY strengthened against the high-yielding currencies due to robust data in Japan and a decline in Tokyo stocks,
dragging the dollar away from its recent lows against the euro. Today, there will be released the Philadelphia Fed index.
MONEY MARKET
The overnight interest rates continued to drop until 1.5/3% zone on Thursday, as the end of the reserve period
approaches and most of the commercial banks already constituted their reserve requirements. Today, the Minister of
Finance will reopen the issue of 3Y benchmark bonds. The indicative amount stands at RON 100mln and bears a coupon
rate of 6%. At the last three-year bond auction held in February, the average accepted yield stood at 6.61%, but it is most
likely that participants would demand returns higher than 7%, as the risks on Romania have increased since then.
|
Domestic Markets Foreign Exchange Rates |
||||
|
NBR |
Daily Change |
Year to Date (%) |
Annualized |
|
|
EUR/RON |
3.3298 |
-0.0008 |
-1.53% |
-1.18% |
|
USD/RON |
2.4469 |
-0.0139 |
-4.70% |
-3.64% |
|
GBP/RON |
4.9203 |
0.0014 |
-2.87% |
-2.22% |
|
CHF/RON |
2.0325 |
0.0028 |
-3.81% |
-2.95% |
|
Interbank Market Interest Rates (%) |
||||
|
ON |
1M |
6M |
12M |
|
|
BUBID |
2.63% |
6.51% |
6.61% |
6.52% |
|
BUBOR |
4.19% |
7.50% |
7.83% |
7.78% |
|
LIBOR(EUR) |
3.84% |
3.86% |
4.10% |
4.26% |
|
LIBOR(USD) |
5.33% |
5.32% |
5.36% |
5.29% |
|
Romanian Equities |
||
|
Last |
Daily (%) |
|
|
BET |
8,698.54 |
-1.32% |
|
BET-C |
5,851.60 |
-1.05% |
|
BET-FI |
64,200.98 |
-2.41% |
|
RASDAQ C |
3,722.19 |
-0.62% |
|
Romanian Eurobonds |
||||
|
Maturity |
Cupon |
Price |
Daily (%) |
Yield |
|
27-Jun-08 |
10.63% |
106.91 |
0.01% |
4.43 |
|
02-Jul-10 |
5.75% |
103.85 |
0.07% |
4.42 |
|
06-May-12 |
6.50% |
117.94 |
0.17% |
4.45 |
|
22-Jun-15 |
4.125% |
95.08 |
0.39% |
4.87 |
|
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 |
0.07% |
1,294.02 |
1,468.47 |
|
DJI |
12,803.84 |
0.24% |
12,612.13 |
12,773.04 |
|
NASDAQ |
2,510.50 |
-0.26% |
2,350.57 |
2,518.33 |
|
XETRA DAX |
7,282.34 |
-0.90% |
6,816.89 |
7,348.83 |
|
NIKKEI 225 |
17,371.97 |
-1.67% |
15,557.45 |
18,215.35 |
|
International Market Exchange Rates |
||
|
CURRENCY |
Latest |
Daily Change |
|
EUR/USD |
1.3582 |
-0.05% |
|
GBP/USD |
2.0030 |
-0.33% |
|
USD/CHF |
1.2026 |
-0.30% |
|
USD/SEK |
6.7779 |
0.12% |
|
USD/JPY |
117.93 |
-0.78% |
|
EUR/USD trading rate |
|||
|
Support |
Resistance |
||
|
Sup. 1 |
1.3560 |
Res. 1 |
1.3610 |
|
Sup. 2 |
1.3520 |
Res. 2 |
1.3630 |
|
Sup. 3 |
1.3500 |
Res. 3 |
1.3670 |
|
Sup. 4 |
1.3480 |
Res. 4 |
1.3700 |
|
Commodities |
||
|
Latest |
Daily (%) |
|
|
GOLD |
687.15 |
-0.33% |
|
SILVER |
13.89 |
-0.79% |
|
OIL (BRENT) |
65 |
-1.78% |
|
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.