CREDIT EUROPE DAILY
"I don't know the key to success, but the key to failure is trying to please everybody." - Bill Cosby
FOREX MARKET
On April 19th, the Romanian parliament suspended President Traian Basescu on charges of unconstitutional conduct. The
very next day, the vote of the parliament was validated by the Constitutional Court, opening the way for a referendum within 30
days at which people of Romania would be consulted whether they agree with the blame vote of parliament. According to
surveys, Traian Basescu remains the most popular and trusted politician and has high chances to be reinforced as president of
Romania. The rating agencies had a moderate reaction to the political instability, however urged Romania to continue
implementing structural reforms and anti-corruption measures.
On Friday, the domestic market opened lower in the 3.3320 zone, rose until 3.3335 level, but shortly after sustained euro
selling pushed bids down to 3.3250 level in early trading. RON is holding well against the single currency, as investors
refrained to punish the domestic currency as long as Romania's economy remains robust, country ratings and fiscal code stay
unchanged. However, by the end of the trading, the single currency rose until 3.3350 level, after the Constitutional Court
validated the suspension of Basescu.
On Monday, the Romanian market opened higher at 3.3400 level, as some clients with lower appetite for risk decided to shield
themselves. However, the 3.3400 resistance area held on once more today, as other investors found it as an appropriate level
to enter the Romania forex market.
The euro suffered a slight correction in early European trading, dropping until 1.3570 zone, as investors need more incentives
to open new long positions. Furthermore, the comments of US Treasury Secretary Paulson in the weekend affirming that he
still believed that a strong dollar was in US interest, eased down market's worries that the Federal Reserve might resort to rate
cuts in the coming months.
MONEY MARKET
On April 23rd, the overnight interest rates are traded for 3/5% bids/asks, as the NBR is holding its usual deposit auction.
Tomorrow, it is likely that the short term interest rates would recover to the proximity of the key rate, as a new reserve period
would be starting.
|
Domestic Markets Foreign Exchange Rates |
||||
|
NBR |
Daily Change |
Year to Date (%) |
Annualized |
|
|
EUR/RON |
3.3328 |
-0.0042 |
-1.45% |
-1.11% |
|
USD/RON |
2.4490 |
-0.0046 |
-4.62% |
-3.55% |
|
GBP/RON |
4.9077 |
-0.0051 |
-3.12% |
-2.39% |
|
CHF/RON |
2.0289 |
-0.0120 |
-3.98% |
-3.06% |
|
Interbank Market Interest Rates (%) |
||||
|
ON |
1M |
6M |
12M |
|
|
BUBID |
1.06% |
6.56% |
6.61% |
6.51% |
|
BUBOR |
3.00% |
7.51% |
7.76% |
7.75% |
|
LIBOR(EUR) |
3.84% |
3.86% |
4.11% |
4.28% |
|
LIBOR(USD) |
5.28% |
5.32% |
5.35% |
5.27% |
|
Romanian Equities |
||
|
Last |
Daily (%) |
|
|
BET |
8,691.98 |
0.94% |
|
BET-C |
5,839.69 |
0.89% |
|
BET-FI |
64,360.16 |
1.49% |
|
RASDAQ C |
3,710.86 |
0.02% |
|
Romanian Eurobonds |
||||
|
Maturity |
Cupon |
Price |
Daily (%) |
Yield |
|
27-Jun-08 |
10.63% |
106.85 |
-0.03% |
4.45 |
|
02-Jul-10 |
5.75% |
103.77 |
0.06% |
4.45 |
|
06-May-12 |
6.50% |
117.66 |
0.00% |
4.50 |
|
22-Jun-15 |
4.125% |
94.62 |
0.01% |
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 |
0.93% |
1,294.02 |
1,472.50 |
|
DJI |
12,961.98 |
1.20% |
12,773.04 |
12,808.63 |
|
NASDAQ |
2,526.39 |
0.84% |
2,350.57 |
2,518.33 |
|
XETRA DAX |
7,342.54 |
1.38% |
6,917.03 |
7,348.83 |
|
NIKKEI 225 |
17,455.37 |
0.02% |
15,557.45 |
18,215.35 |
|
International Market Exchange Rates |
||
|
CURRENCY |
Latest |
Daily Change |
|
EUR/USD |
1.3584 |
-0.32% |
|
GBP/USD |
2.0016 |
-0.20% |
|
USD/CHF |
1.2071 |
0.23% |
|
USD/SEK |
6.7662 |
0.22% |
|
USD/JPY |
118.32 |
-0.36% |
|
EUR/USD trading rate |
|||
|
Support |
Resistance |
||
|
Sup. 1 |
1.3600 |
Res. 1 |
1.3650 |
|
Sup. 2 |
1.3560 |
Res. 2 |
1.3670 |
|
Sup. 3 |
1.3520 |
Res. 3 |
1.3720 |
|
Sup. 4 |
1.3480 |
Res. 4 |
1.3750 |
|
Commodities |
||
|
Latest |
Daily (%) |
|
|
GOLD |
691.9 |
0.98% |
|
SILVER |
13.9 |
1.24% |
|
OIL (BRENT) |
66.25 |
0.26% |
|
| 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.