CREDIT EUROPE DAILY
"Easter says you can put truth in a grave, but it won't stay there." - Clarence W. Hall
FOREX MARKET
On Thursday, the domestic market opened in the 3.3300 zone, but in less than one hour the selling pressure prevailed and
pushed the bids down to 3.3270 zone. However, towards noontime, the euro gained around 50 pips, weakened by mixed regional
mood of off-shore investors and stabilized in the 3.3330 zone. In late trading, RON was affected by the release of Standard &
Pooras Ratings Services on Romaniaas outlook. S&P revised Romaniaas outlook to stable from positive, due to lack of political
visibility since the beginning of 2007. S&P doubts that the new minority government would accomplish vigorous structural reforms
in the coming months. Therefore, the bids surged up to 3.3380 level, as the rating revision might have cooled down some
enthusiasm of the venture funds.
On April 6th, the EUR/RON was bided at 3.3350 level at the opening of domestic forex market. RON was slightly affected by the
revision of Romania's outlook rating from S&P, as bids climbed until 3.3370 level by noon time amid thin trading on Good Friday.
On Monday, the financial markets in Romania would be closed for celebrating Easter.
On April 5th, the American dollar fell to a fresh two year low against the euro reaching until 1.3440 level, due to worse than
expected US Initial Jobless Claims. In mid-European trading, the pair is rangebound in the 3.3400-3.3420 zone, as investors are
reluctant in taking new positions ahead of todayas Non-Farm Payrolls and Unemployment data.
MONEY MARKET
On April 6th, the Minister of Finance issued five-year benchmark bonds carrying a coupon rate of 6.5%. Although MF initially
planed to attract RON 1.5bln, but the high yields demanded by the participants determined MF to drain only RON 1bln. The
maximum yield soared to 7.41% vs. 7.18% at the previous 5Y bond auction, while the average yield reached 7.21% vs. 7.03%
previously. It seems that the interest of foreign investors for the Romanian treasury bills diminished lately, as the political instability
affected our outlook.
The overnight interest rates remained deadlocked in the 7.2/7.7% zone, as liquidity conditions on the interbank market are high.
|
Domestic Markets Foreign Exchange Rates |
||||
|
NBR |
Daily Change |
Year to (%) |
Annualized |
|
|
EUR/RON |
3.3350 |
-0.0023 |
-1.38% |
-1.09% |
|
USD/RON |
2.4961 |
-0.0031 |
-2.78% |
-2.21% |
|
GBP/RON |
4.9265 |
-0.0103 |
-2.75% |
-2.19% |
|
CHF/RON |
2.0448 |
-0.0033 |
-3.23% |
-2.57% |
|
Interbank Market Interest Rates (%) |
||||
|
ON |
1M |
6M |
12M |
|
|
BUBID |
7.03% |
6.96% |
6.63% |
6.51% |
|
BUBOR |
7.88% |
7.89% |
7.91% |
7.84% |
|
LIBOR(EUR) |
3.88% |
3.86% |
4.07% |
4.21% |
|
LIBOR(USD) |
5.34% |
5.32% |
5.33% |
5.23% |
|
Romanian Equities |
||
|
Last |
Daily (%) |
|
|
BET |
8,578.08 |
0.40% |
|
BET-C |
5,824.85 |
2.07% |
|
BET-FI |
59,223.45 |
0.51% |
|
RASDAQ C |
3,528.89 |
2.54% |
|
Romanian Eurobonds |
||||
|
Maturity |
Cupon |
Price |
Daily (%) |
Yield |
|
27-Jun-08 |
10.63% |
107.06 |
-0.05% |
4.46 |
|
02-Jul-10 |
5.75% |
103.85 |
-0.07% |
4.44 |
|
06-May-12 |
6.50% |
118.05 |
-0.01% |
4.44 |
|
22-Jun-15 |
4.125% |
95.09 |
-0.29% |
4.86 |
|
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 |
0.30% |
1,292.99 |
1,459.68 |
|
DJI |
12,560.20 |
0.24% |
12,382.30 |
12,530.05 |
|
NASDAQ |
2,471.34 |
0.51% |
2,340.68 |
2,524.94 |
|
XETRA DAX |
7,099.91 |
0.37% |
6,579.87 |
7,073.91 |
|
NIKKEI 225 |
17,484.78 |
-0.04% |
15,557.45 |
18,215.35 |
|
International Market Exchange Rates |
||
|
CURRENCY |
Latest |
Daily Change |
|
EUR/USD |
1.3413 |
0.40% |
|
GBP/USD |
1.9706 |
-0.21% |
|
USD/CHF |
1.2167 |
-0.32% |
|
USD/SEK |
6.9241 |
-0.48% |
|
USD/JPY |
118.73 |
0.01% |
|
EUR/USD trading rate |
|||
|
Support |
Resistance |
||
|
Sup. 1 |
1.3400 |
Res. 1 |
1.3440 |
|
Sup. 2 |
1.3380 |
Res. 2 |
1.3460 |
|
Sup. 3 |
1.3360 |
Res. 3 |
1.3480 |
|
Sup. 4 |
1.3340 |
Res. 4 |
1.3520 |
|
Commodities |
||
|
Latest |
Daily (%) |
|
|
GOLD |
673.1 |
0.00% |
|
SILVER |
13.68 |
0.59% |
|
OIL (BRENT) |
70.09 |
1.39% |
|
Interest Rates for Time Deposits of Finansbank (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.