Financial news

US currency rate grew slowly against Euro and British pound sterling.

International foreign exchange market. On Thursday, US dollar intended to win back positions lost earlier. US currency rate grew slowly against Euro and British pound sterling. Currency pair — US dollar/Swiss franc were moving in lateral passage waiting for provisional value of US GDP.

In the morning, at 10:55 KT unemployment data were published in Germany. Number of unemployed persons taking into account seasonal prevalence was reduced by 75 000 persons though analysts predicted reduction by 50 000 persons. These data practically did not impact the market, and the prices almost did not leave the limits of morning price corridors.

An hour before the publication of US GDP, dollar began slowly to go down against European competitors. But the data published did not surprise anybody — GDP growth constituted 0,6 % with predicted 0,7 % — and as a result dollar continued its recession. Neither weekly data concerning the number of applications for unemployment benefits inspirited the investors — this macro economical index value increased up to 375 000 against predicted 349 000 applications. According to these statistic results, Swiss franc reached its historical highest level against US dollar. Today 1 dollar was equivalent to 1,0564 Swiss francs.

In nearest days, correction towards dollar increase by 100-300 points is expected.

Current technical levels as regards main currency pairs:

At Ukrainian interbank foreign exchange market, where US dollar rate since the beginning of the week is kept approximately in the limits of 5,04/5,06 for $1, situation has not greatly changed. The opening of bids was registered in wide range 5,040/5,059, with consequent contraction up to 5,048/5,055. But even this mark proved to be a little high for today, while market balance was established at 5,045/5,052 mark. By session closure, the rate somewhat decreased and constituted  5,045/5,050 for $1.

The majority of transactions was concluded by market participants according to 5,048/5,055 rate, when at Wednesday session the rate was 5,055/5,060.

At DEPO-market, interbank credits rates of pay keep decreasing today which is caused by balances increase at NBU correspondent accounts second day running.

Overnight rates afternoons decreased  by 3,0/7,0%, from 8,0/15,0 in the morning and with 2,0/6,0% at the end of bids on Wednesday. This was resulted by average weighted rate on transactions at 17:00 KT decrease up to  9,7%, from 14,7% a day earlier. The volume of transactions concluded by this time constituted  1,91 b, while the results of bids a day earlier constituted 3,04 b. Nevertheless, tomorrow morning rates can be risen again up to the level of  15/25% of annuals.

Rates on credits for the period "from 2 to 7 days" also decreased but still remain at high points. Their recession was restrained today due to the fact that traditionally at the end of month resources grow in price as a result of limited offer on reporting date.  Rates fluctuation on this type of credits was registered at 8,0/15,8%, against 15,0/19,0% on Wednesday. Average weighted price for concluded transactions decreased up to 12,8%, with 17,8% a day earlier. The volume of concluded transactions rose up to UAH  730 m, with UAH 227 m a day earlier.

Rates on credits for the period "from 22 to 31 days" are the least liable to recession, they were modified in narrow range 14,8/15,8% with 15,0/17,3% a working day earlier.  The volume of bids constituted today 86 m, with 70 м registered on Wednesday.  

Comments by C.N. KRAMAROVA, Head of Treasury

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