|
"Small opportunities are often the beginning of great enterprise." - Demosthenes
FOREX MARKET
Trichet's speech on February 20th, had no impact on the EUR/USD exchange rates as the pair remained rangebound
in the 1.1930-1.1980 zone. On Tuesday, the greenback strengthened slightly entering the 1.1900 path. The US
FOMC minutes are key today and bear rather high risks. We see some further downside potential for the EUR/USD
in the short run, so we set the resistance to 1.1950 while the support moves to 1.1870.
We witnessed a very interesting move in the EUR/RON exchange rates yesterday, as although the National Bank
withdrew the whole offer of the commercial banks the RON remained bearish. The domestic currency lost
momentum on yesterday when it failed to break the strong 3.5000 resistance. Since NBR has raised the monetary
policy rate to 8.5% and settled depo auctions for every Monday, the RON appreciated by 2.3% vs. the euro. We
favour an upside potential towards 3.5200 area for the EUR/RON until Friday when the euro selling interests will be
on tape.
MONEY MARKET
The overnight interest rates were lifted to the 7-9% area by the complete sterilization operation conducted by NBR
on Monday. There were drained RON 5,119mln through 1M depo auction, at the fixed 8.5% rate. We expect that
the ON rates would range in the 6-8% area on the interbank market this week.
Finansbank has raised the interest rates for the RON deposits by 1 percentage point on February 16th, offering one
of the most attractive yields on the Romanian money market.
|
Domestic Markets Foreign Exchange Rates |
||||
|
NBR |
Daily Change |
Year to Date(%) |
Annualized |
|
|
EUR/RON |
3.5042 |
-0.0043 |
-5.06% |
-4.44% |
|
USD/RON |
2.9340 |
-0.0199 |
-5.84% |
-5.13% |
|
GBP/RON |
5.1152 |
-0.0164 |
-4.58% |
-4.02% |
|
CHF/RON |
2 2439 |
-0.0035 |
-5.23% |
-4.60% |
|
Interbank Market Interest Rates (%) |
||||
|
ON |
1M |
6M |
12M |
|
|
BUBID |
6.44% |
6.74% |
6.46% |
6.31% |
|
BUBOR |
8.28% |
8.51% |
8.56% |
8.38% |
|
LIBOR (EUR) |
2.35% |
2.48% |
2.71% |
2.87% |
|
LIBOR (USD) |
4.54% |
4.57% |
4.94% |
5.10% |
|
Romanian Equities |
||
|
Last |
Daily (%) |
|
|
BET |
8,151.26 |
-0.61% |
|
BET-C |
4,789.58 |
-0.40% |
|
BET-FI |
50,911.79 |
-1.29% |
|
RASDAQC |
1,773.70 |
0.02% |
|
Romanian Eurobonds |
||||
|
Maturity |
Cupon |
Price |
Daily (%) |
Yield |
|
27-Jun-08 |
10.63% |
115.99 |
-0.01% |
3.37 |
|
02-Jul-10 |
5.75% |
108.18 |
0.12% |
3.67 |
|
06-May-12 |
6.50% |
125.70 |
0.08% |
3.77 |
|
22-Jun-15 |
4.125% |
98.70 |
-0.04% |
4.29 |
|
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% |
|
RO0505CTN031 |
20 September 2005 |
22 September 2005 |
22 December 2005 |
5.33% |
|
International Equities |
||||
|
Last |
Daily Change |
Year Low |
Year High |
|
|
S&P500 |
1,287.24 |
0.00% |
1,176.84 |
1,294.18 |
|
DJI |
11,115.32 |
0.00% |
10,883.35 |
11,120.68 |
|
NASDAQ |
2,282.36 |
0.00% |
2,239.81 |
2,331.36 |
|
XETRADAX |
5,793.95 |
-0.03% |
5,647.42 |
5,795.48 |
|
NIKKEI 225 |
15,894.94 |
2.96% |
11,565.99 |
16,747.76 |
|
International Market Exchange Rates |
||
|
CURRENCY |
Latest |
Daily Change |
|
EUR/USD |
1.1914 |
-0.38% |
|
GBP/USD |
1.7428 |
-0.09% |
|
USD/CHF |
1.3098 |
0.24% |
|
USD/SEK |
7.8600 |
0.43% |
|
USD/JPY |
118.52 |
0.35% |
|
EUR/USD trading rate |
|||
|
Support |
Resistance |
||
|
Sup. 1 |
1.1900 |
Res. 1 |
1.1970 |
|
Sup. 2 |
1.1850 |
Res. 2 |
1.2020 |
|
Sup. 3 |
1.1800 |
Res. 3 |
1.2050 |
|
Sup. 4 |
1.1720 |
Res. 4 |
1.2110 |
|
Commodities |
||
|
Latest |
Daily (%) |
|
|
GOLD |
551.8 |
-0.33% |
|
SILVER |
9.49 |
-0.21% |
|
OIL (BRENT) |
59.49 |
2.75% |
|
Interest Rates for Time Deposits of Finansbank (Romania) SA |
|||||||
|
1WK |
1M |
3M |
6M |
9M |
12M |
Minimum Amount |
|
|
USD |
0.50% |
3.00% |
3.50% |
4.25% |
4.25% |
4.50% |
USD 1,000 |
|
EUR |
0.50% |
3.00% |
3.50% |
4.00% |
4.25% |
4.25% |
EUR 1,000 |
|
RON |
2.00% |
6.5% |
7.0% |
7.0% |
7.0% |
7.50% |
RON 2,000 |
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.