|
"Don't find fault, find a remedy." - Henry Ford
FOREX MARKET
On Friday, the euro recorded new heights against the dollar, as the US non-farm payrolls for April came out at 138k, far
behind the consensus estimate at 200k. The US unemployment rate for April was out at 4.7%, in line with expectations. The
US consumer credit for March was out at $2.5bln vs. $4.1bln expected, indicating a steep shrinkage of the domestic
demand. As the imbalances of the US economy keep on widening, the confidence of players in the greenback seems to fade
day by day. In these circumstances, the EUR/USD developed a straight rally last week, soaring until 1.2765 level in the last
trading day. The intraday trend seems bullish, but the pair is likely to find resistance in the 1.2810 zone, while the support
moves to 1.2670 level. The technical view indicates a possible correction this week, as the euro looks overbought, however
the general trend of EUR/USD will remain on the upside with 1.2900 as medium term target.
The domestic currency restrained its rangebound area to 3.4620-3.4680 levels in dormant trading on Friday, consolidating
the gains made lately. On Monday, the EUR/RON opened at 3.4660 level, then it moved lower testing the 3.4600 support
level which managed to hold on by noon. Most of the market watchers expect the National Bank to keep flat the key rate at
8.5%, at its monetary policy meeting on May 11th, as the inflation eased in the past months. If this scenario confirms, the
Romanian currency might weaken slightly, but no more than 200-300 pips from the current levels, while if a rate hike is
operated, the pair might break the 3.4500 support on back of foreign inflows attracted by the yield differentials.
MONEY MARKET
The overnight interest rates maintained at 8-9% levels on Monday and it is likely to stay flat until the NBR holds its
monthly meeting at May 11th. Today, the commercial banks are attending the weekly sterilization operation of NBR, meant
to drain the RON excess from the interbank market.
|
Domestic Markets Foreign Exchange Rates |
||||
|
NBR |
Daily Change |
Year to Date(%) |
Annualized |
|
|
EUR/RON |
3.4678 |
0.0030 |
-6.04% |
-4.51% |
|
USD/RON |
2.7308 |
-0.0218 |
-12.36% |
-9.31% |
|
GBP/RON |
5.0529 |
-0.0067 |
-5.74% |
-4.28% |
|
CHF/RON |
2.2214 |
0.0032 |
-5.23% |
-3.90% |
|
Interbank Market Interest Rates (%) |
||||
|
ON |
1M |
6M |
12M |
|
|
BUBID |
7.86% |
6.94% |
6.86% |
6.51% |
|
BUBOR |
8.54% |
8.51% |
8.63% |
8.54% |
|
LIBOR (EUR) |
2.44% |
2.63% |
3.03% |
3.32% |
|
LIBOR (USD) |
4.98% |
5.07% |
5.28% |
5.41% |
|
Romanian Equities |
||
|
Last |
Daily (%) |
|
|
BET |
7,402.93 |
0.39% |
|
BET-C |
4,462.93 |
-0.32% |
|
BET-FI |
47,402.20 |
1.60% |
|
RASDAQC |
1,724.74 |
-0.37% |
|
Romanian Eurobonds |
||||
|
Maturity |
Cupon |
Price |
Daily (%) |
Yield |
|
27-Jun-08 |
10.63% |
113.37 |
0.17% |
3.94 |
|
02-Jul-10 |
5.75% |
105.65 |
0.09% |
4.23 |
|
06-May-12 |
6.50% |
121.58 |
0.11% |
4.33 |
|
22-Jun-15 |
4.125% |
94.72 |
0.18% |
4.85 |
|
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 |
1,325.76 |
1.03% |
1,176.84 |
1,313.21 |
|
DJI |
11,577.74 |
1.21% |
11,283.25 |
11,438.86 |
|
NASDAQ |
2,342.57 |
0.80% |
2,294.23 |
2,370.88 |
|
XETRADAX |
6,113.29 |
1.22% |
5,901.25 |
6,107.12 |
|
NIKKEI 225 |
17,291.67 |
0.80% |
12,966.25 |
17,563.37 |
|
International Market Exchange Rates |
||
|
CURRENCY |
Latest |
Daily Change |
|
EUR/USD |
1.2739 |
0.46% |
|
GBP/USD |
1.8611 |
0.56% |
|
USD/CHF |
1.2249 |
-0.46% |
|
USD/SEK |
7.3010 |
-0.73% |
|
USD/JPY |
111.63 |
-1.80% |
|
EUR/USD trading rate |
|||
|
Support |
Resistance |
||
|
Sup. 1 |
1.2660 |
Res. 1 |
1.2800 |
|
Sup. 2 |
1.2610 |
Res. 2 |
1.2910 |
|
Sup. 3 |
1.2560 |
Res. 3 |
1.3000 |
|
Sup. 4 |
1.2520 |
Res. 4 |
1.3090 |
|
Commodities |
||
|
Latest |
Daily(%) |
|
|
GOLD |
682.75 |
0.42% |
|
SILVER |
14 |
0.07% |
|
OIL (BRENT) |
71.76 |
-0.86% |
|
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.