|
"Anger, if not restrained, is frequently more hurtful to us than the injury that provokes it." -Seneca
FOREX MARKET
On Tuesday, The EUR/USD broke the 1.2040 level and headed towards 1.2100 which held and the exchange rate
reversed until 1.2000 zone. The Federal Reserve hiked by 25bps as expected for the 15th time in a row and left the
policy outlook unchanged. Ben Bernanke was slightly hawkish yesterday, while adding more detail by predicting
slower growth after the first quarter of 2006. But it was also noted that � some further policy firming may be needed
to keep the risks to the attainment of both sustainable economic growth and price stability roughly in balance � the
Fed said in its statement after meeting yesterday. We set the first support area at 1.1960, as we favour some short
term strength for the dollar, while the resistance stands at 1.2040 today.
Since NBR decided to leave flat the monetary policy rate at 8.5%, the Romanian currency lost some of the gains
posted since the beginning of the year, as for the moment the appreciation of the RON stands at 4.5%. The
EUR/RON climbed until 3.5290 yesterday, on back of increasing buying appetite for the EUR coming from
commercial clients. On Wednesday, the Romanian market opened at 3.5200 and shortly the pair rallied until 3.5410
when the selling orders prevailed the trade pushing the rate lower to 3.5250-3.5300 area. We expect that the EUR
will maintain its recent gains, however we see the 3.5500 zone to hold strong resistance.
MONEY MARKET
The overnight interest rates stand at 8-9% on March 29th, as the RON excess still remains moderate.
Starting March 23rd, Finansbank has hiked again its interest rates, offering for several maturities the best yields in
the market both for RON and EUR deposits.
|
Domestic Markets Foreign Exchange Rates |
||||
|
NBR |
Daily Change |
Year to Date(%) |
Annualized |
|
|
EUR/RON |
3.5247 |
0.0185 |
-4.50% |
-3.64% |
|
USD/RON |
2.9214 |
0.0062 |
-6.25% |
-5.06% |
|
GBP/RON |
5.1075 |
0.0157 |
-4.72% |
-3.82% |
|
CHF/RON |
2.2417 |
0.0128 |
-5.23% |
-4.24% |
|
Interbank Market Interest Rates (%) |
||||
|
ON |
1M |
6M |
12M |
|
|
BUBID |
7.01% |
6.94% |
6.86% |
6.51% |
|
BUBOR |
8.46% |
8.51% |
8.63% |
8.54% |
|
LIBOR (EUR) |
2.59% |
2.64% |
2.93% |
3.17% |
|
LIBOR (USD) |
4.79% |
4.82% |
5.06% |
5.18% |
|
Romanian Equities |
||
|
Last |
Daily (%) |
|
|
BET |
7,655.78 |
-0.20% |
|
BET-C |
4,547.11 |
-0.42% |
|
BET-FI |
45,180.24 |
-7.72% |
|
RASDAQC |
1,712.00 |
-0.49% |
|
Romanian Eurobonds |
||||
|
Maturity |
Cupon |
Price |
Daily (%) |
Yield |
|
27-Jun-08 |
10.63% |
114.41 |
-0.25% |
3.76 |
|
02-Jul-10 |
5.75% |
106.82 |
-0.40% |
3.96 |
|
06-May-12 |
6.50% |
123.56 |
-0.52% |
4.05 |
|
22-Jun-15 |
4.125% |
96.67 |
-0.78% |
4.57 |
|
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 |
1,293.23 |
-0.64% |
1,176.84 |
1,307.25 |
|
DJI |
11,154.54 |
-0.85% |
11,235.47 |
11,317.43 |
|
NASDAQ |
2,304.46 |
-0.48% |
2,239.81 |
2,314.64 |
|
XETRADAX |
5,890.63 |
-0.37% |
5,673.36 |
5,973.14 |
|
NIKKEI 225 |
16,938.41 |
1.49% |
12,256.55 |
16,747.76 |
|
International Market Exchange Rates |
||
|
CURRENCY |
Latest |
Daily Change |
|
EUR/USD |
1.1999 |
-0.10% |
|
GBP/USD |
1.7404 |
-0.33% |
|
USD/CHF |
1.3095 |
0.02% |
|
USD/SEK |
7.8374 |
0.66% |
|
USD/JPY |
117.70 |
0.68% |
|
EUR/USD trading rate |
|||
|
Support |
Resistance |
||
|
Sup. 1 |
1.1950 |
Res. 1 |
1.2110 |
|
Sup. 2 |
1.1860 |
Res. 2 |
1.2190 |
|
Sup. 3 |
1.1830 |
Res. 3 |
1.2220 |
|
Sup. 4 |
1.1780 |
Res. 4 |
1.2320 |
|
Commodities |
||
|
Latest |
Daily (%) |
|
|
GOLD |
560.75 |
-1.02% |
|
SILVER |
10.76 |
-1.28% |
|
OIL (BRENT) |
64 |
2.76% |
|
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% |
3.25% |
3.75% |
4.25% |
4.50% |
4.50% |
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.