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CNH: USD/CNY Fixing Close To Neutral

CNH

The USD/CNY fixing printed at 7.1220, versus a Bloomberg consensus of 7.1212.

  • The slightly higher result relative to expectations still leaves us close to neutral from a fixing standpoint.
  • USD/CNH is down slightly in the first part of trading, last near 7.1315/20. It hasn't reacted to the fixing.
  • Broader USD sentiment is softer led by the AUD post the jobs beat.
  • The China focus is on the upcoming housing ministry lead press conference. 
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The USD/CNY fixing printed at 7.1220, versus a Bloomberg consensus of 7.1212.

  • The slightly higher result relative to expectations still leaves us close to neutral from a fixing standpoint.
  • USD/CNH is down slightly in the first part of trading, last near 7.1315/20. It hasn't reacted to the fixing.
  • Broader USD sentiment is softer led by the AUD post the jobs beat.
  • The China focus is on the upcoming housing ministry lead press conference.