Forecast for coming week Summing up views of

The forecast for the coming week: Summing up the views of a number of analysts from leading banks and brokerage firms, as well as forecasts

EUR / USD. Calendar upcoming week any special economic and political events is not checked, and possibly more than 50% so analysts supported almost half oscillators D1, inclined to the lateral movement of the pair. The second large enough group of experts (40%) believes that the couple should a second test the height of 1.1000. And only 10% of the experts believe that the pair will go immediately to the south. However, their view is supported by graphical analysis and almost half of the oscillator on the H4, indicating an overbought the pair. Moreover, in the medium term it expects fall for 65% analysts. Near term support is 1.0850, medium-term goal – to return to the zone 1.0500-1.0680;

– With regard to the future of GBP / USD, there trend indicators on the D1 insist on continuing sluggish, upward trend, which began in the last decade of April. With this view agree 30% of the experts believe that the pair have to break through the 1.3000 bar. An alternative view is represented by 70% analysts trend indicators 60% and 90% oscillators H4. They all insist on selling this pair, the nearest support is 1.2755. If we move to the medium-term forecast, the number of bears supporters among analysts already exceeds 80%, and as a main objective stated level of 1.2100.

– USD / JPY. After an impressive leap up the couple in the first half of last week and rather strong pullback in the second, the indicators were diametrically opposed – on the D1 they actively vote for the purchase of a pair, and H4 – for its sale. Analysts also are unable to reach any consensus: a third of them for the pair falling, one-third – of its growth, and the remaining third – for a sideways trend. At the same time, about 60% of the experts believe that, with the support in the 111.60-111.79 area in the next few weeks, the pair still has to try to conquer the height of 115.50;

– and the last couple of our review – USD / CHF. As her schedule last week was similar to the chart USD / JPY, so similar and indicators predictions about its future: on the D1 – purchase, at H4 – sale. But as experts and graphical analysis, then, in their view, the pair must first will fall to 0.9940-0.9960 area, then fight back to the level of 0.9990, and then go back into the zone 1.0050-1.0100.

Roman Butko, NordFX

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CBR can to support initiative for release of

CBR can to support the initiative for the release of the banks with the base license from the IFRS reporting

The Bank of Russia is ready to consider the release of the banks with the base license from the statements according to international financial reporting standards (IFRS) and can support him. This was stated by the head of the Central Bank of the Russian Federation Elvira Nabiullina at a meeting of the Association of Banks “Russia”.

“We are ready to consider this issue. If we see that for counterparty banks with a base license this reporting (IFRS – Ed.). Is not of interest, the regulator has its opportunity to receive information about the status of these banks – then we can support this initiative, “- she said, adding that the proposal requires detailed consideration.

Since 2018 the Central Bank will introduce a proportional control of the banking sector. In particular, it provides for the creation of two-tier banking system in Russia: banks with a universal license (minimum capital requirements in the amount of 1 billion rubles) and banks with a base license (the minimum amount of own funds amount to 300 million rubles).

Banks with a universal license will be able to carry out a full range of banking operations and will need to comply with the full list of regulatory requirements. For credit institutions with the basic license will apply simplified regulation, they will not be able to conduct operations with foreign legal entities, foreign entities which are not legal entities under international law, as well as foreign individuals.

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Fitch improved rating to BB GTLK to BB outlook

Fitch improved the rating to BB GTLK to BB-, outlook – stable

International rating agency Fitch upgraded the long-term issuer default rating of the State transport leasing company (GTLK) to «BB» to «BB-«. The rating outlook – “stable”, according to a press release from the agency.

According to the report, the decision to upgrade reflects a slight increase in the likelihood that GTLK if necessary be able to get support from the state, which is the sole shareholder of the company.

GTLK established in 2001 and offers a leasing program for all sectors of the transport industry as well as companies in other industries. The Company sells government initiatives development and maintenance of transport infrastructure, as well as leading independent leasing projects in partnership with leading Russian banks.

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Demand of foreign investors in BFL can support

The demand of foreign investors in the BFL can support the ruble in the long term – CBR

The demand of foreign investors in the federal loan bonds (OFZ) is stable in the long term could support the ruble, according to the quarterly information and analytical materials Bank of Russia “Financial Review: The conditions for monetary policy.”

The regulator notes that the demand caused by the persistence of high interest rates and sagging ruble exchange rate volatility.

Indicator carry-to-risk on the currency pair dollar-ruble (the ratio of the difference of internal and external to the volatility of rates) is currently one of the best among all developing countries. In addition, the increased buying OFZ bonds by foreign investors largely explained as increased global demand for risky assets, “- the document says the Central Bank.

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BONDS Regions of Russian Federation in hurry

BONDS: Regions of the Russian Federation in a hurry to the market, `heated&# 39; surplus

Several regions of the Russian Federation have announced plans to enter the bond market before the summer lull, deciding under the conditions of excess liquidity in the market does not wait for a possible reduction of the cost of the Bank of Russia loans in mid-June.

“The market is now warmed up, – said on the phone the deputy chief of earnings management and the government debt of the Volgograd Region Marina Kopaneva. – The market did not immediately react to the decision of the Central Bank to change the key rate. A couple of weeks is nothing to give. “

Russian bond rates falling on the background of monetary easing policy of the Central Bank of the Russian Federation and the surplus liquidity in the banking sector. The yield on bonds of the Moscow region fell by more than 100 basis points, reaching a low of 8.50 percent since the location in November.

Earlier this week, Yaroslavl region held a placement of 10-year bonds for 7.5 billion rubles, and the authorities of the Volgograd region on Friday to hold an auction of bonds by 10 billion rubles. Samara and Belgorod regions in June, also intend to raise funds on the market.

“Regions that are allowed to fiscal rules seek to take advantage of excess liquidity in the bond market and the continuing demand for paper to replace the bonds more expensive to service bank loans to finance projects in the conditions when the Ministry of Finance stingy on funding because of the budget deficit,” – wrote email CEO of Sputnik AM Alexander Losev.

See also: Central Bank: inflation expectations in May fell to 10.3% from 11% in April.

  • “The moment is now good, but we believe that the key rate will be reduced, and the yield will be lower, because inflation is already in the region of 4 per cent, so the later one could take and cheaper” – said on the phone the portfolio manager of the Criminal Code “Alfa Capital” Eugene Zhornist
    • "It is important that the trend continues and the key rate will come to 6.5-7%"
  • coupon benchmark 7-year amortization bonds of Volgograd region at auction June 2 is 9.2-9.5 per cent per annum, the placement volume – 10 billion rubles
  • Samara region will offer on June 9 auction of 7-year depreciation of 10 billion rubles bonds
    • Benchmark rate of the 1st coupon: 8.4-8.6 per cent per annum
    • Possible reduction in the key rate would not allow the Samara Region to raise funds more cheaply because it is already priced in; if the Central Bank keep rates may start correction: Deputy Finance Minister Elena control Zyabkina email
  • Belgorod region June 20 will begin placement of 7-year depreciation of bonds is 4 billion rubles
  • According to the median forecast of analysts and economists surveyed by Bloomberg, the CBR will reduce the rate on June 16 by 25 basis points to 9 per cent per annum

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VEB will sign 10 agreements with innovative companies

VEB will sign 10 agreements with innovative companies to finance projects

Vnesheconombank plans to sign at the St. Petersburg International Economic Forum more than 10 agreements with innovative companies to finance their projects, including a project to create a flying motorcycle, he said in an interview with Tass Bank Sergey Gorkov.

“We are signing here in the forum for more than ten agreements with innovative companies to develop new innovative projects”, – he said bitterly. According to him, it is a project to build a flying motorcycle, development of free Wi-Fi networks in public places and small satellites.

As reported recently, Sergey Gorkov, a lecture to students of Kazan (Volga) Federal University, VEB plans to present at SPIEF, which will be held June 1-3, a flying motorcycle design.

According to him, this is a Russian design, in which VEB has invested, and it is a completely new and promising form of transport: it is not a drone, a device that is capable of carrying a person, while 20 km at a speed of 80 km / h.

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EDIT head of VTB 24 was not included in updated

EDIT: The head of VTB 24 was not included in the updated composition of VTB Management Board members

The Supervisory Board of VTB Bank elected a new member of the Board of the credit institution. It does not included the head of VTB 24 Mikhail Zadornov VTB and member of the board and the Holding Company “VTB Capital” Victoria Vanurina, reported today in the press service of VTB.

In total 14 people were elected to the board. The new face of the board was Anatoliy Pechatnikov. He became a member of the Board as Deputy President – Chairman of the Board of VTB Bank.

The press service of the credit organization clarified that the printers will oversee the retail business of VTB Group.

In addition, the bank stressed that the board can not be considered completely formed in connection with the upcoming addition of VTB 24 to VTB.

Mikhail Zadornov became a member of VTB Management Board at the end of December last year. As head Zadornov, VTB24 has held since mid-2005.

Victoria Vanurina became a member of VTB Bank Management Board in 2011. Vanurina previously served as senior vice president of VTB Bank. VTB Group is working since 2008 and is engaged in the development of the investment business.

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