CREDIT EUROPE DAILY
"Reputation is what men and women think of us; character is what God and angels know of us." - Thomas Paine
FOREX MARKET
On May 16th, the domestic forex market opened at the same levels as the day before, respectively at 3.2750 level and
moved to the upwards until 3.2780 level. RON steadied against the euro, maintaining recent gains, finding some stability in
the 3.2750 zone, as it ranged less than 50 pips in either direction.
On Thursday, the single currency was quoted slightly higher, in the 3.2800 zone at the opening of domestic session.
Afterwards, the selling pressure intensified, pushing the pair until 3.2740 level by the time of writing. We expect that the
EUR/RON would reverse its move to the upwards, as RON seems rather overbought and it is likely to loose the high yields
support starting Friday.
The greenback rebounded against the euro yesterday, due to stronger than expected US industrial production figures and a
rise in housing starts. Given the recent favourable US data, the market eased on the worries that the Federal Reserve
would have to cut the benchmark rate to give a boost to the economy. Therefore, the US dollar rose until 1.3500 zone,
however the gains of the greenback might be limited, as investors expect that the ECB and BoE to continue raising policy
rates later in 2007. In early European trading, the EUR/USD is bided in the 1.3540 zone.
MONEY MARKET
On Wednesday, the ON interest rates eased slightly, reaching 8/10% bids/asks as a one-month deposit at NBR worth RON
2.5bln had matured. Today, the commercial banks would have to reimburse RON 1bln, as a one-week repo with NBR had
matured, while on Friday another repo of RON 2bln would expire. However, the liquidity shortage would be counterbalanced
on Friday when 3M CDs at NBR amounting to RON 3bln would return into the market. Also today, the Minister of Finance
will reopen 3Y treasury bonds at the fixed coupon rate of 6% for the indicative amount of RON 100mln. The overnight
maturities remained flat in the 8/10% zone.
|
Domestic Markets Foreign Exchange Rates |
||||
|
NBR |
Daily Change |
Year to Date (%) |
Annualized |
|
|
EUR/RON |
3.2777 |
-0.0054 |
-3.08% |
-2.25% |
|
USD/RON |
2.4109 |
-0.0150 |
-6.10% |
-4.47% |
|
GBP/RON |
4.7818 |
-0.0117 |
-5.61% |
-4.11% |
|
CHF/RON |
1.9831 |
-0.0058 |
-6.15% |
-4.51% |
|
Interbank Market Interest Rates (%) |
||||
|
ON |
1M |
6M |
12M |
|
|
BUBID |
7.72% |
7.09% |
6.78% |
6.53% |
|
BUBOR |
10.28% |
8.91% |
8.28% |
8.08% |
|
LIBOR(EUR) |
3.84% |
3.89% |
4.19% |
4.37% |
|
LIBOR(USD) |
5.31% |
5.32% |
5.36% |
5.31% |
| Romanian Equities | ||
|
Last |
Daily (%) |
|
|
BET |
8,413.88 |
-1.10% |
|
BET-C |
5,816.39 |
0.14% |
|
BET-FI |
68,890.64 |
1.60% |
|
RASDAQ C |
3,914.84 |
-0.11% |
|
Romanian Eurobonds |
||||
|
Maturity |
Cupon |
Price |
Daily (%) |
Yield |
|
27-Jun-08 |
10.63% |
106.32 |
-0.04% |
4.58 |
|
02-Jul-10 |
5.75% |
103.44 |
-0.02% |
4.54 |
|
06-May-12 |
6.50% |
117.04 |
0.01% |
4.58 |
|
22-Jun-15 |
4.125% |
93.97 |
-0.34% |
5.05 |
|
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 |
0.86% |
1,331.32 |
1,512.58 |
|
DJI |
13,487.53 |
0.77% |
13,326.22 |
13,383.84 |
|
NASDAQ |
2,547.42 |
0.88% |
2,422.26 |
2,576.34 |
|
XETRA DAX |
7,481.25 |
-0.32% |
7,343.08 |
7,525.69 |
|
NIKKEI 225 |
17,498.60 |
-0.17% |
15,557.45 |
18,215.35 |
|
International Market Exchange Rates |
||
|
CURRENCY |
Latest |
Daily Change |
|
EUR/USD |
1.3521 |
-0.59% |
|
GBP/USD |
1.9771 |
-0.47% |
|
USD/CHF |
1.2226 |
0.68% |
|
USD/SEK |
6.8166 |
0.91% |
|
USD/JPY |
120.89 |
0.53% |
|
EUR/USD trading rate |
|||
|
Support |
Resistance |
||
|
Sup. 1 |
1.3520 |
Res. 1 |
1.3545 |
|
Sup. 2 |
1.3500 |
Res. 2 |
1.3560 |
|
Sup. 3 |
1.3460 |
Res. 3 |
1.3580 |
|
Sup. 4 |
1.3400 |
Res. 4 |
1.3620 |
|
Commodities |
||
|
Latest |
Daily (%) |
|
|
GOLD |
663.25 |
-1.41% |
|
SILVER |
12.87 |
-2.50% |
|
OIL (BRENT) |
66.52 |
0.14% |
|
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.