CREDIT EUROPE DAILY
"Great men may die, but there ideas won't." - Kelly Nelson
FOREX MARKET
On Monday, the single currency was quoted at 3.2600 level at the opening of the domestic trading and climbed to
intraday high at 3.2635 level in the first minutes of trading. However shortly after, the Romanian currency resumed its
appreciation path rallying until 3.2550 zone where it seems to have found strong support. Later, RON lost some of its
earlier gains, falling until 3.2600 zone, as the liquidity shortage had eased down towards the closing of the domestic
trading.
On May 22nd, the Romanian forex market opened slightly higher at 3.2630 level, as the fall of the short term interest
rates made the carry trades unprofitable. Therefore RON reversed its move to the upside until 3.2675 level till the
moment of writing. We expect that the upward correction would continue in the next days, despite the favourable mood of
investors towards the emerging markets, as RON looks rather overbought.
On Monday, the greenback broke the 1.3470 support zone, rallying until 1.3450 level. The US dollar benefited from solid
economic data on US like consumer confidence, manufacturing, housing starts and jobless claims that prompted the
dollar to a five-week high against the euro. In early European trading on Tuesday, the EUR/USD is bided in the 1.3450
zone. Today, the market will be watching Germany's ZEW survey of economic sentiment for May.
MONEY MARKET
On May 21st, the overnight maturities were traded in the 9/12% zone, however they gradually fell until 5/8% bids/asks in
the second part of trading, as some liquidity had entered the Romanian market. On Tuesday, the overnight interest rates
tumbled until 1/3% zone, as commercial banks started to price in RON 2bln which are to mature tomorrow from a onemonth
deposit at NBR.
|
Domestic Markets Foreign Exchange Rates |
||||
|
NBR |
Daily Change |
Year to Date (%) |
Annualized |
|
|
EUR/RON |
3.2580 |
-0.0128 |
-3.66% |
-2.65% |
|
USD/RON |
2.4162 |
-0.0084 |
-5.90% |
-4.28% |
|
GBP/RON |
4.7604 |
-0.0229 |
-6.03% |
-4.38% |
|
CHF/RON |
1.9656 |
-0.0114 |
-6.98% |
-5.08% |
|
Interbank Market Interest Rates (%) |
||||
|
ON |
1M |
6M |
12M |
|
|
BUBID |
1.13% |
6.81% |
6.78% |
6.50% |
|
BUBOR |
3.94% |
7.89% |
8.09% |
8.00% |
|
LIBOR(EUR) |
3.84% |
3.94% |
4.21% |
4.40% |
|
LIBOR(USD) |
5.30% |
5.32% |
5.38% |
5.37% |
|
Romanian Equities |
||
|
Last |
Daily (%) |
|
|
BET |
8,461.02 |
-0.35% |
|
BET-C |
5,815.62 |
-0.48% |
|
BET-FI |
71,387.32 |
0.57% |
|
RASDAQ C |
4,025.96 |
0.90% |
|
Romanian Eurobonds |
||||
|
Maturity |
Cupon |
Price |
Daily (%) |
Yield |
|
27-Jun-08 |
10.63% |
106.27 |
-0.01% |
4.58 |
|
02-Jul-10 |
5.75% |
103.49 |
-0.02% |
4.52 |
|
06-May-12 |
6.50% |
117.10 |
0.04% |
4.56 |
|
22-Jun-15 |
4.125% |
94.30 |
0.29% |
5.00 |
|
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 |
0.15% |
1,349.58 |
1,514.14 |
|
DJI |
13,542.88 |
-0.10% |
13,476.72 |
13,556.53 |
|
NASDAQ |
2,578.79 |
0.80% |
2,459.31 |
2,576.34 |
|
XETRA DAX |
7,619.31 |
0.15% |
7,408.87 |
7,607.54 |
|
NIKKEI 225 |
17,680.05 |
0.70% |
15,725.94 |
18,215.35 |
|
International Market Exchange Rates |
||
|
CURRENCY |
Latest |
Daily Change |
|
EUR/USD |
1.3445 |
-0.50% |
|
GBP/USD |
1.9721 |
-0.07% |
|
USD/CHF |
1.2298 |
0.16% |
|
USD/SEK |
6.8453 |
0.42% |
|
USD/JPY |
121.46 |
0.16% |
|
EUR/USD trading rate |
|||
|
Support |
Resistance |
||
|
Sup. 1 |
1.3450 |
Res. 1 |
1.3480 |
|
Sup. 2 |
1.3430 |
Res. 2 |
1.3500 |
|
Sup. 3 |
1.3400 |
Res. 3 |
1.3530 |
|
Sup. 4 |
1.3370 |
Res. 4 |
1.3570 |
|
Commodities |
||
|
Latest |
Daily (%) |
|
|
GOLD |
662 |
0.11% |
|
SILVER |
13.01 |
0.62% |
|
OIL (BRENT) |
70.2 |
0.36% |
|
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.