|
"Most men would rather die than think. Many do." - Bertrand Russell
FOREX MARKET
The EUR/RON has surged on Monday from 3.4850 to 3.5510. The fact that the opening level remained the day low and the
closing is just 50 pips from the intra-day high is suggestive for the power of the buyers. The move can be the result of two
independent factors coming together in the same period. The first is the European Commission's report on Romania's accession
date being presented today. The market sees and increasing risk that the report will recommend that our country's entry will be
postponed to 2008 and subsequently the entry of new foreign investments will be delayed. The second factor is a general move of
institutional investors out of assets with higher risk, emerging markets and commodities especially. The result has been foreign
players closing short positions on the EUR/RON.
Today we are seeing a retracement of yesterday's move. The Euro has opened at RON 3.5520 and after making a brief top at
3.5630, has decreased constantly to 3.5390, as players have seen 3.55 as an attractive selling level in the short run.
The Dollar has continued its ascension on the international market, with the EUR/USD down in Asian trading to a low of 1.2780,
down almost 200 pips from the 1.2970 high touched in Tokyo trading yesterday. It is the first strong level of resistance
encountered by the greenback in the last two days. The Producer Prices being released today can provide a reason for the market
to sell the EUR/USD beyond this level.
RON O/N interest rates have returned to their usual level for the last week, 8/9%. They have moved slightly up, grossly 25pips,
after yesterday's 1M depo auction through which the NBR drained RON 5 bio from the market at an 8.5% rate.
MONEY MARKET
The RON money market has opened 25 basis point lower than Friday, with O/N quotations standing at 7.75/8.75%. Bids have, from
then, slightly increased to 8%, in anticipation of today's NBR depo auction.
|
Domestic Markets Foreign Exchange Rates |
||||
|
NBR |
Daily Change |
Year to Date(%) |
Annualized |
|
|
EUR/RON |
3.5418 |
0.0578 |
-4.04% |
-2.96% |
|
USD/RON |
2.7588 |
0.0638 |
-11.46% |
-8.49% |
|
GBP/RON |
5.1982 |
0.0852 |
-3.03% |
-2.22% |
|
CHF/RON |
2.2839 |
0.0359 |
-5.23% |
-3.84% |
|
Interbank Market Interest Rates (%) |
||||
|
ON |
1M |
6M |
12M |
|
|
BUBID |
7.68% |
6.94% |
6.86% |
6.51% |
|
BUBOR |
8.51% |
8.51% |
8.63% |
8.54% |
|
LIBOR (EUR) |
2.61% |
2.65% |
3.07% |
3.36% |
|
LIBOR (USD) |
5.03% |
5.08% |
5.27% |
5.40% |
|
Romanian Equities |
||
|
Last |
Daily (%) |
|
|
BET |
7,305.00 |
-1.69% |
|
BET-C |
4,432.31 |
-1.34% |
|
BET-FI |
46,311.26 |
-1.11% |
|
RASDAQC |
1,732.87 |
0.58% |
|
Romanian Eurobonds |
||||
|
Maturity |
Cupon |
Price |
Daily (%) |
Yield |
|
27-Jun-08 |
10.63% |
113.37 |
0.11% |
3.88 |
|
02-Jul-10 |
5.75% |
105.73 |
0.27% |
4.20 |
|
06-May-12 |
6.50% |
121.44 |
0.22% |
4.34 |
|
22-Jun-15 |
4.125% |
94.57 |
0.60% |
4.87 |
|
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 |
1,294.50 |
0.25% |
1,176.84 |
1,325.76 |
|
DJI |
11,428.77 |
0.42% |
11,380.99 |
11,642.65 |
|
NASDAQ |
2,238.52 |
-0.23% |
2,272.70 |
2,370.88 |
|
XETRADAX |
5,857.03 |
-1.00% |
5,916.28 |
6,140.72 |
|
NIKKEI 225 |
16,158.42 |
-1.99% |
13,106.18 |
17,563.37 |
|
International Market Exchange Rates |
||
|
CURRENCY |
Latest |
Daily Change |
|
EUR/USD |
1.2811 |
-0.57% |
|
GBP/USD |
1.8826 |
-0.43% |
|
USD/CHF |
1.2098 |
0.60% |
|
USD/SEK |
7.3487 |
0.98% |
|
USD/JPY |
110.26 |
0.46% |
|
EUR/USD trading rate |
|||
|
Support |
Resistance |
||
|
Sup. 1 |
1.2780 |
Res. 1 |
1.2860 |
|
Sup. 2 |
1.2720 |
Res. 2 |
1.2970 |
|
Sup. 3 |
1.2680 |
Res. 3 |
1.3000 |
|
Sup. 4 |
1.2580 |
Res. 4 |
1.3100 |
|
Commodities |
||
|
Latest |
Daily (%) |
|
|
GOLD |
676 |
-5.51% |
|
SILVER |
12.9 |
-9.35% |
|
OIL (BRENT) |
68.08 |
-3.69% |
|
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.