Free Trial

CNY Fixing - Another Fresh Cyclical High

CNH

The USD/CNY fixing printed at 7.1768, versus a Bloomberg consensus of 7.2323.

  • Today's outcome was a -555 pip surprise, which compares to -392pips last Friday. This outcome is still away from recent wides, -950pips recorded on the 20th of October.
  • The actual fixing printed another fresh cyclical high, which is likely to keep expectations around further depreciation pressures in place.
  • USD/CNH has spiked higher post the fix, reaching 7.2915, above highs from Friday's session. We are back to 7.2860/70 now. Firmer USD sentiment against the majors is also a factor (notably USD/JPY is back at 148.20, +0.40% on last week's closing levels).

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.