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CNH: USD/CNY Fixing Stays Neutral, PMIs Out Soon

CNH
EM BulletAPACChinaEmerging Market NewsBulletGlobalFixed Income BulletsForeign Exchange BulletsRegionMarkets

The USD/CNY fix printed at 7.0074, versus a Bloomberg consensus of 7.0080.

  • this keeps the fixing error close to neutral, which is where it has been since Sep 19. Note that will be the last CNY fixing until next Tuesday, as onshore markets are out from tomorrow for the National Day holiday period.
  • USD/CNH has ticked down slightly in the first part of Monday trade, but hasn't been able to test the 6.9700 handle. Local asset market sentiment is likely to be buoyed by weekend news around easier housing curbs in major cities.
  • Coming up shortly we also have the PMI prints for September, which the market expects will tick higher. 
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The USD/CNY fix printed at 7.0074, versus a Bloomberg consensus of 7.0080.

  • this keeps the fixing error close to neutral, which is where it has been since Sep 19. Note that will be the last CNY fixing until next Tuesday, as onshore markets are out from tomorrow for the National Day holiday period.
  • USD/CNH has ticked down slightly in the first part of Monday trade, but hasn't been able to test the 6.9700 handle. Local asset market sentiment is likely to be buoyed by weekend news around easier housing curbs in major cities.
  • Coming up shortly we also have the PMI prints for September, which the market expects will tick higher.