CREDIT EUROPE DAILY
"Materialism is buying things we don't need, with money we don't have, to impress people who don't matter. " -
anonymous
FOREX MARKET
The greenback continued to decline against the euro, on back of worsening concerns about the US mortgage market
after major US subprime lenders had gone bankrupt due to increasing defaults. Also, yesterday's US Retail Sales
numbers for February came out unexpectedly weak and fueled expectations that the American economy might be
slowing down in the next quarters. Therefore, the EUR/USD rallied up to 1.3220 resistance zone on Tuesday. In mid-
European trading on March 14th, the pair is traded in the 1.3200 zone, as investors are waiting for the US mortgage
data to decide whether shorting their USD positions.
On March 13th, the Romanian forex market opened flat at 3.3670 level, but gradually the pair underwent an upside
move until 3.3750 zone, driven by the dovish regional mood of investors which seem reluctant to risk lately. However,
the single currency could not keep the gains, and turned back to 3.3700 zone, where it closed the session.
On Wednesday, important buying orders had driven the opening bids higher by 150 pips as compared to closing levels,
respectively to 3.3850 area. However within a couple of minutes, the sellers made their appearance taking advantage
of the high exchange rates and pushed the pair down to 3.3750 area by noontime. We expect that the EUR/RON
would consolidate in the 3.3800 zone in the second part of the trading, moving in either way no more than 50 pips.
MONEY MARKET
The overnight deposits are traded for 7.7/8.5% bids/asks, as the liquidity on the interbank market remains rather low in
the second half of the mandatory reserve period. Yesterday, the Minister of Finance intended to drain liquidity from the
market for one-week period. MF canceled the auction, probably because the bids of the banks exceeded their
expectation, but announced another 1W deposit auction today.
|
Domestic Markets Foreign Exchange Rates |
||||
|
NBR |
Daily Change |
Year to (%) |
Annualized |
|
|
EUR/RON |
3.3733 |
0.0056 |
-0.25% |
-0.21% |
|
USD/RON |
2.5611 |
0.0051 |
-0.25% |
-0.21% |
|
GBP/RON |
4.9397 |
-0.0252 |
-2.49% |
-2.08% |
|
CHF/RON |
2.0913 |
0.0098 |
-1.03% |
-0.86% |
|
Interbank Market Interest Rates (%) |
||||
|
ON |
1M |
6M |
12M |
|
|
BUBID |
7.69% |
7.40% |
6.50% |
6.41% |
|
BUBOR |
8.53% |
8.26% |
7.94% |
7.88% |
|
LIBOR(EUR) |
3.30% |
3.86% |
4.00% |
4.11% |
|
LIBOR(USD) |
5.30% |
5.32% |
5.33% |
5.22% |
|
Romanian Equities |
||
|
Last |
Daily (%) |
|
|
BET |
8,422.89 |
-1.87% |
|
BET-C |
5,422.20 |
-1.71% |
|
BET-FI |
55,149.54 |
-5.05% |
|
RASDAQ C |
2,952.59 |
0.81% |
|
Romanian Eurobonds |
||||
|
Maturity |
Cupon |
Price |
Daily (%) |
Yield |
|
27-Jun-08 |
10.63% |
107.65 |
0.04% |
4.29 |
|
02-Jul-10 |
5.75% |
104.52 |
0.31% |
4.24 |
|
06-May-12 |
6.50% |
119.33 |
0.17% |
4.23 |
|
22-Jun-15 |
4.125% |
96.56 |
0.38% |
4.63 |
|
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&P 500 |
1,318.03 |
-2.04% |
1,263.20 |
1,459.68 |
|
DJI |
12,075.96 |
-1.97% |
12,260.70 |
12,318.62 |
|
NASDAQ |
2,350.57 |
-2.15% |
2,340.68 |
2,524.94 |
|
XETRA DAX |
6,623.99 |
-1.36% |
6,494.30 |
7,027.59 |
|
NIKKEI 225 |
16,676.89 |
-2.92% |
14,884.07 |
18,215.35 |
|
International Market Exchange Rates |
||
|
CURRENCY |
Latest |
Daily Change |
|
EUR/USD |
1.3195 |
0.19% |
|
GBP/USD |
1.9227 |
-0.32% |
|
USD/CHF |
1.2157 |
-0.70% |
|
USD/SEK |
7.0386 |
-0.22% |
|
USD/JPY |
116.02 |
-1.12% |
|
EUR/USD trading rate |
|||
|
Support |
Resistance |
||
|
Sup. 1 |
1.3180 |
Res. 1 |
1.3220 |
|
Sup. 2 |
1.3150 |
Res. 2 |
1.3240 |
|
Sup. 3 |
1.3070 |
Res. 3 |
1.3260 |
|
Sup. 4 |
1.3020 |
Res. 4 |
1.3300 |
|
Commodities |
||
|
Latest |
Daily (%) |
|
|
GOLD |
641.9 |
-1.26% |
|
SILVER |
12.63 |
-2.55% |
|
OIL (BRENT) |
61.17 |
1.54% |
|
Interest Rates for Time Deposits of Credit Europe Bank (Romania) SA |
|||||||
|
1WK |
1M |
3M |
6M |
9M |
12M |
Minimum Amount |
|
|
USD |
0.50% |
4.25% |
4.50% |
4.75% |
5.00% |
5.50% |
USD 1,000 |
|
EUR |
0.50% |
3.75% |
4.00% |
4.25% |
4.25% |
4.75% |
EUR 1,000 |
|
RON |
3.00% |
7.25% |
7.25% |
7.50% |
7.50% |
7.75% |
RON 2,000 |
Released by Credit Europe Bank Romania S.A.,3rd Nerva Traian Street, Bucharest. For further information please contact Melania Hancila -Treasury & Capital Markets Division, Phone 308 52 66, Fax 318 87 74.
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 Credit Europe Bank Romania S.A., Nerva Traian nr.3, Bucuresti. Pentru mai multe informatitii si intrebari, va rugam contactati Departamentul Trezorerie si Piete de capital - Melania Hancila, Telefon: 308 52 66, Fax: 318 87 74.
Acest buletin are scop informativ si nu reprezintaun 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.