|
"The avoidance of taxes is the only intellectual pursuit that still carries any reward." - John Maynard Keynes
FOREX MARKET
On Thursday the EUR/RON ranged inside a narrow 3.4760-3.4850 band. Despite the fact that RON O/N interest rates had
descended in the past days to 1/3% quotations, investors were reluctant to sell the Leu. The main reason is that the current
excess liquidity on the money market will probably last only until the 24th of May, when banks will start borrowing more
aggressively for the next NBR reserve period, and subsequently O/N rates will return to 8/9% levels.
Today the market opened at 3.4800, and as the Euro has failed to capitalize in the past days on RON �s yield weakness,
players have decided to sell the pair to as low as 3.47. The downside risk is now 3.45 in the medium run, the more so as we
expect a return upwards of RON O/N interest rates.
The US Dollar has seen a rebound in the past two days, as part of the retracement of the move from 1.2080 to 1.2390. The
retracement, so far from 1.2390 to 1.2290, the current market level, can extend to 1.2220 if the 1.2270 support falls. As for
today and Monday there are no important economic figures to be released, this technical level can be a turning point for
next week�s trading.
MONEY MARKET
RON O/N deposits are bided today mostly at 1%, same as yesterday, with occasional 0.5% bids. On the right side, lenders
have decreased their demands from 3% to 2% asks, expecting NBR's depo auction on Thursday.
|
Domestic Markets Foreign Exchange Rates |
||||
|
NBR |
Daily Change |
Year to Date(%) |
Annualized |
|
|
EUR/RON |
3.4824 |
0.0010 |
-5.65% |
-4.36% |
|
USD/RON |
2.8199 |
0.0028 |
-9.50% |
-7.37% |
|
GBP/RON |
5.0284 |
-0.0040 |
-6.20% |
-4.79% |
|
CHF/RON |
2.2170 |
-0.0039 |
-5.23% |
-4.04% |
|
Interbank Market Interest Rates (%) |
||||
|
ON |
1M |
6M |
12M |
|
|
BUBID |
0.98% |
6.94% |
6.86% |
6.51% |
|
BUBOR |
2.98% |
8.51% |
8.63% |
8.54% |
|
LIBOR (EUR) |
2.62% |
2.64% |
2.93% |
3.20% |
|
LIBOR (USD) |
4.79% |
4.95% |
5.20% |
5.30% |
|
Romanian Equities |
||
|
Last |
Daily (%) |
|
|
BET |
7,444.65 |
0.01% |
|
BET-C |
4,516.27 |
-0.29% |
|
BET-FI |
46,145.53 |
-0.08% |
|
RASDAQC |
1,726.98 |
0.10% |
|
Romanian Eurobonds |
||||
|
Maturity |
Cupon |
Price |
Daily (%) |
Yield |
|
27-Jun-08 |
10.63% |
113.69 |
-0.03% |
3.90 |
|
02-Jul-10 |
5.75% |
106.09 |
0.07% |
4.13 |
|
06-May-12 |
6.50% |
122.21 |
0.13% |
4.24 |
|
22-Jun-15 |
4.125% |
95.53 |
0.61% |
4.73 |
|
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 |
1,311.46 |
0.12% |
1,176.84 |
1,311.56 |
|
DJI |
11,342.89 |
0.57% |
11,073.78 |
11,278.77 |
|
NASDAQ |
2,362.55 |
-0.35% |
2,249.72 |
2,361.17 |
|
XETRADAX |
6,063.28 |
1.16% |
5,901.25 |
6,031.39 |
|
NIKKEI 225 |
17,403.96 |
0.50% |
12,533.89 |
17,563.37 |
|
International Market Exchange Rates |
||
|
CURRENCY |
Latest |
Daily Change |
|
EUR/USD |
1.2290 |
-0.36% |
|
GBP/USD |
1.7787 |
-0.47% |
|
USD/CHF |
1.2795 |
0.57% |
|
USD/SEK |
7.5628 |
0.55% |
|
USD/JPY |
117.59 |
-0.06% |
|
EUR/USD trading rate |
|||
|
Support |
Resistance |
||
|
Sup. 1 |
1.2270 |
Res. 1 |
1.2390 |
|
Sup. 2 |
1.2210 |
Res. 2 |
1.2420 |
|
Sup. 3 |
1.2180 |
Res. 3 |
1.2480 |
|
Sup. 4 |
1.2100 |
Res. 4 |
1.2590 |
|
Commodities |
||
|
Latest |
Daily (%) |
|
|
GOLD |
611.9 |
-4.51% |
|
SILVER |
11.75 |
-19.47% |
|
OIL (BRENT) |
72.77 |
-0.16% |
|
Interest Rates for Time Deposits of Finansbank (Romania) SA |
|||||||
|
1WK |
1M |
3M |
6M |
9M |
12M |
Minimum Amount |
|
|
USD |
0.50% |
3.00% |
3.75% |
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.