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FINANS DAILY |
TREASURY DIVISION
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November 2, 2005 |
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"The only thing men learn from history is that men learn nothing from history." - Hegel
FOREX MARKET
No big surprises overnight from the Fed - as the monetary policy statement was not adjusted despite the fed funds
rate having reached the round number of 4.00% - this suggests that the Fed is virtually guaranteed to hike at the next
meeting in December. Focus now shifts to US ISM Non-manufacturing and employment numbers. In December,
there is likely that the Fed would give clues to the market as regarding a pause early next year in this continuous rate
hiking regime. Taking a close look at the forex international market, we might conclude that the players are already
pricing in more hiking for the ECB than from the Fed, so unless US economical results continue to be strong, the
EUR may remain supported, especially if Trichet signals a raise likelihood in December. Lately, the EUR/USD has
turned into a question mark, so we expect that the pair will continue to range between 1.1960-1.2060 levels.
The domestic forex trade opened at the 3.6630 level, however pretty soon the EUR/RON fell until 3.6440, the lowest.
As in the last two days, the euro failed to break the 3.6700 resistance, the local forex market faced a correction today,
as the exchange rate stabilized near 3.6500 level by noon and it seems that it will stay like this the rest of the session.
As the NBR's main objective consists in maintaining the stability of the national economy, in their next meeting they
might take into consideration to support the domestic currency, if the sudden appreciation of the euro continues.
MONEY MARKET
The situation on the domestic money market remains unchanged, as NBR keeps on staying away from the market.
The interest rates for the overnight deposits continue to stand at 0.8-1.5% on the inter-bank market.
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Domestic Markets Foreign Exchange Rates
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| �
|
NBR
|
Daily Change
|
Year to Date(%)
|
Annualized
|
|
EUR/RON
|
3.6594
|
0.0091
|
-7.74%
|
-9.16%
|
|
USD/RON
|
3.0477
|
0.0218
|
4.10%
|
4.91%
|
|
GBP/RON
|
5.3934
|
0.0115
|
-3.87%
|
-4.60%
|
|
CHF/RON
|
2.3668
|
0.0061
|
-7.92%
|
-9.37%
|
|
Interbank Market Interest Rates (%)
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| �
|
ON
|
1M
|
6M
|
12M
|
|
BUBID
|
0.65%
|
1.63%
|
2.81%
|
3.09%
|
|
BUBOR
|
2.06%
|
5.25%
|
6.69%
|
6.88%
|
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LIBOR (EUR)
|
2.08%
|
2.12%
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2.38%
|
2.55%
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LIBOR (USD)
|
4.06%
|
4.09%
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4.46%
|
4.71%
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|
Romanian Equities
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| �
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Last
|
Daily (%)
|
|
BET
|
6,214.13
|
-0.13%
|
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BET-C
|
3,717.48
|
0.13%
|
|
BET-FI
|
37,237.23
|
-1.49%
|
|
RASDAQC
|
1,708.00
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-0.68%
|
|
Romanian Bonds
|
|
Maturity
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Cupon
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Price
|
Daily (%)
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Yield
|
|
10-Nov-05
|
11.50%
|
99.87
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-0.07%
|
24.54
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27-Jun-08
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10.63%
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118.22
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-0.31%
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3.28
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02-Jul-10
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5.75%
|
109.27
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-0.04%
|
3.54
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06-May-12
|
6.50%
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126.77
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-0.05%
|
3.77
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22-Jun-15
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4.125%
|
97.88
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-0.15%
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4.39
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Romanian State Government Bonds and T-Bills
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|
Latest issues
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Auction Date
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Issue Date
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Maturity Date
|
Avg. Yield
|
|
RO0508DBNI22
|
01 August 2005
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03 August 2005
|
03 August 2008
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7.60%
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|
RO0510DBNI36
|
08 August 2005
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10 August 2005
|
10 August 2010
|
7.48%
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RO0515DBN143
|
15 August 2005
|
17 August 2005
|
17 August 2015
|
7.49%
|
|
RO0508DBN155
|
15 September 2005
|
19 September 2005
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19 September 2008
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7.60%
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|
RO0505CTN031
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20 September 2005
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22 September 2005
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22 December 2005
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5.33%
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|
International Equities
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| �
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Last
|
Daily Change
|
Year Low
|
Year High
|
|
S&P500
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1,151.74
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-0.35%
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1,137.50
|
1,245.04
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DJI
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10,406.77
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-0.32%
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10,215.22
|
10,440.07
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NASDAQ
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2,114.05
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-0.29%
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2,037.47
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2,160.35
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|
XETRADAX
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4,922.55
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-0.13%
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4,808.16
|
5,138.02
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NIKKEI 225
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13,894.78
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0.19%
|
10,825.39
|
13,867.86
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International Market Exchange Rates
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|
CURRENCY
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Latest
|
Daily Change
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|
EUR/USD
|
1.2029
|
0.35%
|
|
GBP/USD
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1.7667
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-0.18%
|
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USD/CHF
|
1.2859
|
-0.28%
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USD/SEK
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7.9735
|
0.30%
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USD/JPY
|
116.79
|
0.22%
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EUR/USD trading rate
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|
Support
|
�
|
Resistance |
�
|
|
Sup. 1
|
1.1970
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Res. 1
|
1.2050
|
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Sup. 2
|
1.1920
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Res. 2
|
1.2170
|
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Sup. 3
|
1.1870
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Res. 3
|
1.2200
|
|
Sup. 4
|
1.1800
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Res. 4
|
1.2250
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|
Commodities
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| �
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Latest
|
Daily ( %)
|
|
GOLD
|
461.1
|
-1.07%
|
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SILVER
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7.45
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-1.32%
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OIL (BRENT)
|
57.28
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-2.52%
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Interest Rates for Time Deposits of Finansbank (Romania) SA
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| �
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1WK
|
1M
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3M
|
6M
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9M
|
12M
|
Minimum Amount
|
|
USD
|
0.50%
|
3.00%
|
3.50%
|
4.25%
|
4.25%
|
4.50%
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USD 1,000
|
|
EUR
|
0.50%
|
3.00%
|
3.50%
|
4.00%
|
4.25%
|
4.25%
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EUR 1,000
|
|
RON
|
0.50%
|
4.0%
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4.5%
|
5.0%
|
5.0%
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5.50%
|
RON 2,000
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Released by FINANSBANK Romania S.A., Splaiul Unirii no.12, Bl. B6 040034, Bucharest. For further information please contact Melania Hancila Treasury & Capital Markets Division, Phone 301 73 42, Fax 318 09 61.
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 FINANSBANK Romania S.A., Splaiul Unirii nr.12, Bl. B6 040034, Bucuresti. Pentru mai multe informatii si intrebari, va rugam contactati Departamentul Trezorerie si Piete de capital - Melania Hancila, Telefon: 301 73 42, Fax: 318 09 61.
Acest buletin are scop informativ si nu reprezinta un 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.
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