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2008

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At international foreign exchange market USD kept growing after one day of correction

International foreign exchange market. On Thursday USD kept growing after one day of correction. At 18:00 KT USD increased against EUR more than 130 points.

Industrial manufacturing in Euro zone in April of the current year increased 3,9% in annual calculation 0,9% in monthly one. Expecting 0,1% and 2,8% growth, market gave weak reaction to this economic indicator. EUR slightly "increased" and started decreasing.

Today oil traders fixed profit depending on oil quotations increase that occurred before. It caused oil prices decrease by USD 132,6 per barrel.

In May volume of retail sales in the USA increased 1% comparing to April. In April this growth constituted 0,4%. Such news supported USD rate increase in the world.

Technical levels on the main currency pairs at 17:45 КТ:

  EUR/USD GBP/USD  USD/CHF  
 Opposition 3   1,561 2  1,966 5  1,062 7
 Opposition 2  1,550 9  1,955 8  1,053 4
 Opposition 1  1,544 7 1,949 5  1,048 2
 Support 1  1,537 5  1,942 6  1,043 5
 Support 2 1,531 3  1,936 7  1,038 1
 Support 3 1,520 9  1,926 0  1,029 0

At Ukrainian interbank foreign exchange market the National Bank renewed USD purchase with the rate of 4,82/$1 after one day break, giving previous notice to commercial banks about readiness to such step. However practice of the previous days showed that the NBU absorbs only part of market offer and that is why this news influenced course of bids which main volume was performed today within 4,72/4,75. Morning message of central bank did not have previous effect and quotations increased just for 2-3 kopecks (in comparison with a previous day), when earlier USD rate was directed to the rate of possible intervention.

Today market balanced within 4,71/4,77, with 4,70/4,75 on Wednesday, and majority of bargains was concluded today by market participants within 4,73/4,74, with 4,725/4,74 per $1 a day before.

At DEPO-market, in spite of UAH decrease in this morning, rates on interbank credits slightly decreased, as somehow or other the NBU interventions favoured additional liquidity flow.

UAH "overnight" was today at the level 10,0/18,0%, with 10,0/20,0% a day before. Average weighted price on actually concluded bargains decreased by 14,6%, from 15,8% yesterday. Volume of bargains at 17:00 КТ constituted UAH 2,93 b, with 3,97 b in accordance with bids results of Wednesday.

Credit rates for the term "from 2 to 7 days" decreases today. Trade range on these credits decreased by 15,0/17,0%, from 16,0/25,0% a day before. Average weighted price on actually performed bargains decreased 2,8%, from 19,2% p.a. Volumes of concluded bargains decreased by 130 m from more than 200 m on Wednesday.

Credit rates for the term "from 22 to 31 days" are today about 18,0/19,0%, with 18,0/20,0% at bids of the previous day.

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

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News thrue june
2008

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