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CNY Fixing Again On The Strong Side

CNH

The USD/CNY fix printed at 7.2422, versus a Bloomberg consensus of 7.2517

  • Today's outcome represents a -95pip surprise in USD/CNY terms, versus yesterday's outcome of -86pips.
  • Today's fix is a decent step up on yesterday's outcome (7.2189), but this is largely due to higher USD levels from overnight. We also remain below recent cyclical highs for the fix (7.2555 recorded on the 4th of November).
  • USD/CNH is down slightly from overnight highs, last tracking just under 7.2630, but this is line with a softer USD against the majors since the open.
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The USD/CNY fix printed at 7.2422, versus a Bloomberg consensus of 7.2517

  • Today's outcome represents a -95pip surprise in USD/CNY terms, versus yesterday's outcome of -86pips.
  • Today's fix is a decent step up on yesterday's outcome (7.2189), but this is largely due to higher USD levels from overnight. We also remain below recent cyclical highs for the fix (7.2555 recorded on the 4th of November).
  • USD/CNH is down slightly from overnight highs, last tracking just under 7.2630, but this is line with a softer USD against the majors since the open.