|
"Some succeed because they are destined to, but most succeed because they are determined to." - Anon
FOREX MARKET
In Q4 2005, the US current account deficit hit a new record high of USD 224.9bln, or near 7% of the GDP,
while the whole year C/A gap widened to USD 804.9bln. Furthermore, the US Advanced Retail Sales fell to -
1.3% vs. -0.8% expected. The worrying data on US pushed the EUR higher and broke the 1.2000 resistance.
The poor US retail sales figures shaped up the view of the Fed not hiking beyond 5% the monetary policy rate.
Yesterday's developments threw the European currency on a bullish path, however it still needs to take out the
1.2090 level to give scope for 1.2300.
As lately the investors on the emerging markets seem to have developed a risk aversion and started to cash in
their profits, the domestic currency was plunged on a downward path. The RON hit one month low on
Tuesday, as the pair reached 3.5440 area, also weakened by the low interest rates. On March 15th, the opening
bids stood at 3.5360 and triggered the euro selling which prompted the pair towards the 3.5150 zone. We see
the EUR/RON traded in the 3.5100-3.5200 area in the coming days, as the EUR sell-off might have cooled
down.
MONEY MARKET
The increased liquidity on the Romanian money market drove the short tenor rates on a dangerous path
regarding the struggle against inflation. The overnight interest rates fell to 2-4% on Wednesday.
Starting March 9th, Finansbank has hiked the interest rates for the domestic currency deposits, offering the
best yields in the market for most maturities.
|
Domestic Markets Foreign Exchange Rates |
||||
|
NBR |
Daily Change |
Year to Date(%) |
Annualized |
|
|
EUR/RON |
3.5391 |
0.0311 |
-4.11% |
-3.43% |
|
USD/RON |
2.9596 |
0.0187 |
-5.02% |
-4.19% |
|
GBP/RON |
5.1366 |
0.0592 |
-4.18% |
-3.49% |
|
CHF/RON |
2.2577 |
0.0236 |
-5.23% |
-4.37% |
|
Interbank Market Interest Rates (%) |
||||
|
ON |
1M |
6M |
12M |
|
|
BUBID |
1.45% |
6.94% |
6.86% |
6.51% |
|
BUBOR |
3.81% |
8.51% |
8.63% |
8.54% |
|
LIBOR (EUR) |
2.59% |
2.63% |
2.85% |
3.09% |
|
LIBOR (USD) |
4.55% |
4.75% |
5.07% |
5.22% |
|
Romanian Equities |
||
|
Last |
Daily (%) |
|
|
BET |
7,411.24 |
-1.96% |
|
BET-C |
4,435.04 |
-1.70% |
|
BET-FI |
44,663.32 |
-2.25% |
|
RASDAQC |
1,722.48 |
0.10% |
|
Romanian Eurobonds |
||||
|
Maturity |
Cupon |
Price |
Daily (%) |
Yield |
|
27-Jun-08 |
10.63% |
114.90 |
0.03% |
3.65 |
|
02-Jul-10 |
5.75% |
107.36 |
0.34% |
3.84 |
|
06-May-12 |
6.50% |
124.39 |
0.15% |
3.94 |
|
22-Jun-15 |
4.125% |
97.09 |
0.39% |
4.51 |
|
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&P500 |
1,297.48 |
1.04% |
1,176.84 |
1,294.18 |
|
DJI |
11,151.34 |
0.68% |
10,958.59 |
11,097.55 |
|
NASDAQ |
2,295.90 |
1.27% |
2,239.81 |
2,314.64 |
|
XETRADAX |
5,870.88 |
0.27% |
5,673.36 |
5,915.15 |
|
NIKKEI 225 |
16,319.04 |
0.50% |
11,766.48 |
16,747.76 |
|
International Market Exchange Rates |
||
|
CURRENCY |
Latest |
Daily Change |
|
EUR/USD |
1.2023 |
0.38% |
|
GBP/USD |
1.7464 |
0.65% |
|
USD/CHF |
1.3021 |
-0.51% |
|
USD/SEK |
7.7898 |
-0.56% |
|
USD/JPY |
117.53 |
-0.86% |
|
EUR/USD trading rate |
|||
|
Support |
Resistance |
||
|
Sup. 1 |
1.1940 |
Res. 1 |
1.2050 |
|
Sup. 2 |
1.1860 |
Res. 2 |
1.2110 |
|
Sup. 3 |
1.1830 |
Res. 3 |
1.2180 |
|
Sup. 4 |
1.1775 |
Res. 4 |
1.2220 |
|
Commodities |
||
|
Latest |
Daily (%) |
|
|
GOLD |
550 |
1.27% |
|
SILVER |
10.2 |
1.19% |
|
OIL (BRENT) |
62.18 |
2.39% |
|
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% |
7.5% |
7.5% |
7.75% |
8.00% |
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.