|
"Chains of habit are too light to be felt until they are too heavy to be broken." - Warren Buffet
FOREX MARKET
On April 6th, the European Central Bank kept still its key overnight rate at 2.5%, as expected. Jean-Claude Trichet
cooled down the market's expectations regarding a possible hike in May, affirming that growth risks are broadly
balanced. The disappointment induced by Trichet's comments sent the EUR on a descending path as it lost more than
100 pips, until 1.2165 level. ECB's president shifted the rate hike expectations of investors from May towards June,
therefore we might see a resumption of euros rally within few days after the correction ends, possible on Wednesday
after the US trade balance data will be released. Today we have US non-farm payrolls which usually adds short term
volatility.
On Thursday, in late trading we witnessed the RON rebounded even sooner than expected, as the 3.5230 level triggered
euro sell-off, taking the pair towards 3.5100 area. The domestic currency continued to strengthen today as well as the
exchange rate slipped until 3.5000 resistance zone which is unlikely to be broken during the remaining of the day. For
next week, we expect that the domestic currency will further appreciate, on back of higher foreign inflows and massive
sterilization of NBR within 1M deposits and 3M CDs.
MONEY MARKET
The ON interest rates stay in the 7.75-8.75% area on Friday; it seems that these levels will be seen on the Romanian
interbank market long time from now on, as the National Bank intensified its open-market operations lately.
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 |
3.5182 |
-0.0066 |
-4.68% |
-3.71% |
|
USD/RON |
2.8553 |
-0.0213 |
-8.37% |
-6.67% |
|
GBP/RON |
5.0203 |
-0.0194 |
-6.35% |
-5.05% |
|
CHF/RON |
2.2278 |
-0.0040 |
-5.23% |
-4.16% |
|
Interbank Market Interest Rates (%) |
||||
|
ON |
1M |
6M |
12M |
|
|
BUBID |
7.24% |
6.94% |
6.86% |
6.51% |
|
BUBOR |
8.45% |
8.51% |
8.63% |
8.54% |
|
LIBOR (EUR) |
2.71% |
2.65% |
3.00% |
3.26% |
|
LIBOR (USD) |
4.80% |
4.84% |
5.16% |
5.28% |
|
Romanian Equities |
||
|
Last |
Daily (%) |
|
|
BET |
7,175.83 |
-1.88% |
|
BET-C |
4,269.73 |
-1.88% |
|
BET-FI |
44,913.59 |
-2.63% |
|
RASDAQC |
1,716.30 |
0.35% |
|
Romanian Eurobonds |
||||
|
Maturity |
Cupon |
Price |
Daily (%) |
Yield |
|
27-Jun-08 |
10.63% |
114.18 |
0.04% |
3.79 |
|
02-Jul-10 |
5.75% |
106.25 |
-0.10% |
4.10 |
|
06-May-12 |
6.50% |
122.65 |
-0.07% |
4.19 |
|
22-Jun-15 |
4.125% |
95.39 |
-0.19% |
4.75 |
|
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 |
1,309.04 |
-0.19% |
1,176.84 |
1,307.25 |
|
DJI |
11,216.50 |
-0.21% |
11,109.32 |
11,317.43 |
|
NASDAQ |
2,361.17 |
0.06% |
2,249.72 |
2,345.36 |
|
XETRADAX |
6,031.39 |
0.04% |
5,882.38 |
6,029.20 |
|
NIKKEI 225 |
17,563.37 |
0.42% |
12,309.83 |
17,489.33 |
|
International Market Exchange Rates |
||
|
CURRENCY |
Latest |
Daily Change |
|
EUR/USD |
1.2193 |
-0.72% |
|
GBP/USD |
1.7506 |
-0.03% |
|
USD/CHF |
1.2919 |
0.48% |
|
USD/SEK |
7.6497 |
0.66% |
|
USD/JPY |
117.63 |
0.04% |
|
EUR/USD trading rate |
|||
|
Support |
Resistance |
||
|
Sup. 1 |
1.2170 |
Res. 1 |
1.2330 |
|
Sup. 2 |
1.2120 |
Res. 2 |
1.2355 |
|
Sup. 3 |
1.2100 |
Res. 3 |
1.2400 |
|
Sup. 4 |
1.2070 |
Res. 4 |
1.2450 |
|
Commodities |
||
|
Latest |
Daily (%) |
|
|
GOLD |
596 |
0.63% |
|
SILVER |
12.14 |
2.36% |
|
OIL (BRENT) |
67.47 |
0.81% |
|
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.