Financial news

US rate is strengthened at the interbank market

International foreign exchange market. Monday was started with US dollar increase relating all its European competitors. It was slight US dollar correction after strong movement down at the end of the last week. In Europe significant indexes that could strongly influence further bids course were not published. Eurodollar fluctuated within narrow range — 1,4793-1,4832. At first pound decreased at the background of published data on quantity of issued mortgage credits in Great Britain but less than in an hour it started to grow in price again. Swiss frank was slowly decreasing before American session opening.

Current technical levels on currency pairs:

The most expected event of American session was publication at 17:00 КТ of data about quantity of housing sale at USA secondary market. Market started with US dollar decrease, as for the last months there existed negative dynamics at secondary market that constitutes about 85% of all real estate market in the USA. However data became significantly better of expected meanings and dollar had prompt positive reaction on this news.

Forecast on Tuesday, 26 February 2008. Tomorrow there will be a lot of economic news of European countries and the USA. It is worth to pay attention to outgoing data on German economics: at 9:00 — final data on volume change of gross domestic product volume for 4 quarter of 2007, at 11:30 — current situation estimation. Indexes worsening is expected, that is why it is possible that Euro rate will decrease.

Opening of new week at Ukrainian interbank foreign exchange market was marked by next though insignificant strengthening of US dollar against hryvnia.  

Session was opened on the mark about 5,035/5,050, but as demand on American currency is at the high level with less considerable offer, soon its rate increased by the mark 5,045/5,055, reaching mark 5,050/5,057 during session. By the end of session quotations slightly decreased and constituted 5,040/5,053, at 5,033/5,048 while closing on Friday.

Majority of bargains was concluded today at the range 5,047/5,052, at 5,03/5,04 on bids on Friday.

At DEPO-market today after short confrontation creditors received victory in borrowers of interbank credits in fight for direction of rates movement that grow today on all terms of crediting.

Overnight rates today by the evening increased by the level 8,0/14,0%, from 5,0/8,0% in the morning and 5,0/10,0% a day before. Average weighted rate on bargains by 17:00 КТ increased and constituted 8,0%, at 7,4% in accordance with bids on Friday. Volume of concluded bargains by this time constituted 2,38 bn, at 3,13 bn in accordance with bids of the previous day.

Rates on credits for the term "from 2 to 7 days" increased today by the level 11,5/12,1%, from 7,2/9,5% on Friday. The reason is — to approach reporting date. Average weighted price on concluded bargains increased by 11,8%, from 8,9% a day before. Volume of concluded bargains sharply decreased by UAH 92 m, from 493 m at the end of the day on Friday.

Rates on credits for the term "from 22 to 31 day" constituted today 11,5/16,8%, at 10% on Friday. Bids volume today decreased approximately 5 times — from 245 m by 50 m.

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