Briefing Romania
EUR/RON nearing 4.7400
EUR/RON
The EUR/RON continued to slowly inch upwards, closing above 4.7350 on below average turnover. For today we expect a 4.7300-4.7400 range with upside bias.
Government bonds
The slightly better-than-expected inflation data didn't exactly send shockwaves through the fixed income market, with ROMGBs closing almost flat versus the previous day. Today’s RON600 million Aug-2022 auction should attract good demand as the tenors suits a broad range of investors. We expect an average allocation towards the lower end of the secondary market levels of 3.41%. Otherwise, the market will likely wait for the outcome of the European Central Bank meeting today.
Money market
Cash rates traded with a slight softening bias, but not materially departing from the 2.50% key rate. We expect the same stance for the days to come.
This publication has been prepared by ING solely for information purposes irrespective of a particular user's means, financial situation or investment objectives. The information does not constitute investment recommendation, and nor is it investment, legal or tax advice or an offer or solicitation to purchase or sell any financial instrument. Read more
Download
Download snap