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Last winter day in Europe was opened by rates decrease of European currencies against US dollar

International foreign exchange market. Last winter day in Europe was opened by rates decrease of European currencies against US dollar. Investors are anxious about economic credit markets perspectives.

Meaning of index of manufactures' prices was like it was forecasted — index decreased on 0,4%. Unemployment level constituted 7,1%, that 0,1% less of the previous meaning. Market has already taken into account these data that is why investors had inactive reaction on such news release. It can also mean that market of European currencies is strongly oversold and soon there will be correction relating American currency value increase.

US dollar decrease evidently is connected with risk aversion and stock markets weakness.

Oil prices reached its historical maximum — $103 per barrel. Due to closure of opened positions and profit fixation, price reached the level $102.14 per barrel.

Level of personal income and expenses of the USA population in January increased on 0,2%.

Index of assurance from Michigan University constitutes 70,8, at forecast meaning 70,0, 78,4 — a previous month.

At 17:40 КТ dollar reached its highest meaning for today against Euro.

Current technical levels on main currency pairs:

 EUR/USD
GBP/USD   USD/CHF
 Resistance 3  1.5340  2.0100  1.0730
 Resistance 2  1.5300  2.0060  1.0645
 Resistance 1  1.5240  1.9970  1.0610
 Support 1  1.5145  1.9735  1.0425
 Support 2  1.5075  1.9690  1.0410
 Support 3  1.4965  1.9615  1.0360

At Ukrainian interbank foreign exchange market hryvnia was strengthened against dollar on 0,5-1,5 kop., in comparison with yesterday bids, but it could not reach lower than 5,04/$1 mark.

Bids were opened today at the level 5,045/5,055, but soon as at yesterday session descending movement was started. As a result rate decreased by the level 5,038/5,042, but when the main part of bids was behind, rate gradually increased by the level 5,045/5,050. By the end of session US dollar rate against hryvnia constituted 5,04/5,06, at 5,045/5,050 per $1 on Thursday.

Majority of bargains was concluded today by market participants with 5,040/5,045 rate, at 5,048/5,055 on bids on Thursday.

At DEPO-market rates on interbank credits for the term "overnight" renewed growth, besides other short-term credits "loose positions", as part of the means "tied-up" in NBU in deposit certificates returned to commercial banks.

"Overnight" rates increased by 10,0/20,0%, when in the second part of the day on Thursday decreased by 3,0/7,0%. Average weighted rate on bargains by 17:00 КТ constituted 12,4%, at 9,0% a day before. Volume of concluded bargains by this time constituted just 1,65 bn, at 2,37 bn in accordance with bids of the previous day. At the beginning of the month there are some preconditions by rates decrease, however on Monday 3 March decrease will be restrained by big flow of payments into budget.

Credit rates for the term "from 2 to 7 days" decreased today by 7,4/14,0%, in comparison with 8,0/15,8% on Thursday. Average weighted price on concluded bargains decreased by 11,9%, from 12,8% a day before. Volume of concluded bargains decreased today by UAH 200 m after growth of the previous day by 750 m, due to expected growth of resources value at today bids.

Credits rates for the term "from 22 to 31 day" fluctuate today at the range 10/26%, at 14,8/15,8% at previous business day.

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News thrue february
2008

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