Maket News - May, 2007Content:
1. Money Market
1.1. Local FX market
1.2. International FX market
2. Governmental T-bills’ market
3. Economy
3.1. International reserve of the country
3.2. Inflation
1. FX Market
1.1. Local FX market.
|
USDKZT
|
| OPEN |
120.16 |
| HIGH |
122.65 |
| LOW |
118.62 |
| CLOSE |
122.35 |
Local FX market was extremely volatile in May that proves USDKZT’s prices fluctuation from 118.62 up to 122.65.
The beginning of month foretold strengthening KZT against USD Dollar, but in last decade USD dollar has strengthened its positions and has reached level 122.42 at the end of the month. We assume, that consequences of rising demand for USD dollars comes from the external borrowings of the financial institutions, taken from abroad and which are going to be pay back. In addition, all participants on FX market have started to close their short positions, which is all have impact on strengthening USD dollar against KZT. In May, 28 the National bank has tried to keep fast growth of USD dollar and he was representing seller’s party at the level 121.65 and 121.68. But it has not stopped participants of the FX market and the rate was fixed at the level 122.03. Last day of the month was extremely fluctuated, during both sessions on the KASE USD dollar was traded in the range 122.20-122.68, but the closing level was 122.35.
For this moment it’s very complicated to provide any predictions concerning USDZKT movement. However, in the near future KZT strengthening tenge is possible and expected range of the prices is 120.00-124.00.
| |
OPEN |
HIGH |
LOW |
CLOSE |
| EURKZT |
163.91 |
164.87 |
160.85 |
164.50 |
| KZTRUB |
4.6740 |
4.7330 |
4.6050 |
4.7230 |
1.2. International FX market.
|
EURUSD
|
| OPEN |
1.3640 |
| HIGH |
1.3673 |
| LOW |
1.3406 |
| CLOSE |
1.3451 |
EURUSD: during the whole month EURUSD was showing fluctuations in different ways that proves range of fluctuations 1.3406-1.3612. It is necessary to note, that in the beginning of May was taken the decision on the monetary policy in the USA. The interest rate has remained without any changes, at the level of 5,25 %. Chairman of the USA FRS has informed, that in the nearest quarters USA economy s waiting for the moderate growth and any change in interest rate will depend on economic parameters.
|
GBPUSD
|
| OPEN |
1.9994 |
| HIGH |
2.0074 |
| LOW |
1.9805 |
GBPUSD: as for GBPUSD was correctional movement from recently reached maximum level. During the whole month GBPUSD movement represented a descending trend. Fluctuation range has made 1.9697-2.0074
World oil markets prices were traded in the range 65-70 USD per barrel. The price for Brent oil has raised because of oil delivery reduction from Nigeria and suspensions of the oil refining enterprises work.
2. Governmental T-bills’ market
There is no serious changed on the monetary market. Rates for short term deposits were in a range of 1.60% - 6.00% per annual.
Yield-to-maturity of 28-day's notes stays on the same level as it was in previous periods - 4.71% in May.
Yield-to-maturity of 363-day's notes has grown up to 6.50 % in May.
3. Economy
3.1. International reserve of the country
International reserves of the country for May was $39 222.3 billion.
Gross International Reserves
3.2. Inflation / CPI
Inflation rate in May has increased till 0.7 %. From the beginning of year inflation rate is fixed on the level of 3.8 %.
CPI year-on-year
The information in this section and all subsections constitutions predictions of future events by Kazinvestbank JSC. It obliges neither Kazinvestbank JSC nor the recipient of this information to carry out any speciifc action. Kazinvestbank JSC is not responsible for any of the possible consequences of relying on this information.
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