Financial news

Trading has differently oriented character at DEPO-market

International foreign exchange market. On Friday, the US dollar decreased against the euro and the Swiss franc but rose against the British pound sterling. No important macroeconomic news were published on the economies of the USA and Europe, that is why today's US dollar exchange rate decrease looks more like correcting move after yesterday growth.

One of decrease factors could be the publication by General Electric of Income Statement showing a 6 percent decrease which was explained by the US economy growth slowdown.

The US Consumer Sentiment Index presented by the University of Michigan dropped sharply to 63,2 points from 69,5. While the analysts expected decrease only to 69 points.

Against the background of such negative fundamental indexes, technical analysis of diagrams shows that in future, the US dollar exchange rate will still grow.

Technical levels on the core currency pairs as of 17:50 KT:

At the DEPO-market, trading was characterized by a differently oriented tendency, and as a consequence interest rates fluctuation was registered in a wide range. Continuous growth of interest rates has been provoked today by commercial banks balances reduction at the NBU as well as by much of a flap at the market. Approaching weekend somewhat restrained the situation at the market as on the eve of weekend the majority of market participants try to "make work temporarily surplus funds".

"Overnight" rose today up to 15:30 — 16:00 KT having reached their highest marks at 20/27%, with 12/18% in the morning, but flurry decrease towards trade closing resulted in quotations fall to opening level. Average weighted price of concluded transactions by 17:00 KT increased by 17,5%, from 16,1% a day earlier. Concluded transactions volume by that time rose up to UAH 3,49 billion, with 3,53 billion according to trading results on Thursday.

Rates on credits for a period "from 2 to 7 days" had also a rising tendency today, their price fluctuated in a wider range than it was on Thursday — 15,2/20,0% and 15,0/18,7% accordingly. At this, average price rose up to 16,5%, from 15,9% according to bids results on Thursday. Concluded transactions volumes have been decreasing four days running, they amount today to 81,5 million, with 170 million a day earlier.

Rates on credits for a period "from 22 to 31 days" on actually concluded transactions are within the limits of 15,0/24,0%, with 16,5% a day earlier.

Comments by S.N.Kramarova, the Head of the Treasury, PRAVEX-BANK

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