|
"The IPO market is never in equilibrium. It's either too hot or too cold. Buy in the cold periods." - Jay Ritter, Professor of
Finance, University of Florida
FOREX MARKET
Yesterday, investors have deemed the 3.55 zone to be a very good level for shorting the EUR/RON. The market opened at 3.5520,
made a quick run to 3.5630 and then sellers took over. The pair descended afterwards constantly to a low of 3.5060 and closed at
3.5100.
After the closing bell came the report of the EU Commission regarding Romania ᬠs accession date, which recommended that the
decision should be postponed to October this year. The main reason of the postponement should not be Romania ᬠs progress so far,
which EU officials recognized as satisfying, but rather the wish of the Commission that the current pace of the reforms must be
maintained. This decision can be beneficial also because it helps avoid more political instability in Romania in the near future.
Today selling continues on the EUR/RON market, following this rather favorable outcome of yesterday ᬠs EU report. The pair opened
at 3.5100 and decreased continuously to as low as 3.4880. The Euro is currently stable at 3.4930.
On the international market yesterday, the EUR/USD has found support at 1.2780. Today the retracement of the move from 1.2590 to
1.2970 has ended, and the EUR/USD has reached 1.29 again, rising in line also with the prices of the main commodities. The main
technical levels for the moment are 1.2780 and 1.29 and as the Fed ᬠs current policy is strongly data dependent, we expect the CPI
index to be released today to lead to significant price action.
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
RON O/N rates have decreased today to 7.8/8.8% from 8/9% yesterday. The decrease comes on the settlement date of the strong
RON selling by the banksᬠ clients that occurred two days ago.
|
Domestic Markets Foreign Exchange Rates |
||||
|
NBR |
Daily Change |
Year to Date(%) |
Annualized |
|
|
EUR/RON |
3.5292 |
-0.0126 |
-4.38% |
-3.20% |
|
USD/RON |
2.7544 |
-0.0044 |
-11.60% |
-8.58% |
|
GBP/RON |
5.1786 |
-0.0196 |
-3.40% |
-2.48% |
|
CHF/RON |
2.2706 |
-0.0133 |
-5.23% |
-3.83% |
|
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 |
7,295.88 |
-0.12% |
|
BET-C |
4,426.24 |
-0.14% |
|
BET-FI |
44,900.65 |
-3.05% |
|
RASDAQC |
1,724.50 |
-0.48% |
|
Romanian Eurobonds |
||||
|
Maturity |
Cupon |
Price |
Daily (%) |
Yield |
|
27-Jun-08 |
10.63% |
113.35 |
-0.02% |
3.87 |
|
02-Jul-10 |
5.75% |
105.62 |
-0.10% |
4.22 |
|
06-May-12 |
6.50% |
121.48 |
0.03% |
4.33 |
|
22-Jun-15 |
4.125% |
94.30 |
-0.29% |
4.91 |
|
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 |
1,292.08 |
-0.19% |
1,176.84 |
1,325.76 |
|
DJI |
11,419.89 |
-0.08% |
11,380.99 |
11,642.65 |
|
NASDAQ |
2,229.13 |
-0.42% |
2,243.78 |
2,370.88 |
|
XETRADAX |
5,851.92 |
-0.09% |
5,857.03 |
6,140.72 |
|
NIKKEI 225 |
16,307.67 |
0.92% |
13,106.18 |
17,563.37 |
|
International Market Exchange Rates |
||
|
CURRENCY |
Latest |
Daily Change |
|
EUR/USD |
1.2897 |
0.67% |
|
GBP/USD |
1.8961 |
0.72% |
|
USD/CHF |
1.2024 |
-0.61% |
|
USD/SEK |
7.2709 |
-1.06% |
|
USD/JPY |
109.16 |
-1.00% |
|
EUR/USD trading rate |
|||
|
Support |
Resistance |
||
|
Sup. 1 |
1.2780 |
Res. 1 |
1.2900 |
|
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 |
713.5 |
5.55% |
|
SILVER |
14.02 |
8.68% |
|
OIL (BRENT) |
68.05 |
-0.04% |
|
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.