Free Trial

CNY Fixing: Back To A Firmer Bias

CNH

The USD/CNY fixing printed at 6.7611, versus a Bloomberg consensus of 6.7640.

  • Today's outcome represents a -29pip outcome in USD/CNY terms, versus +44pips yesterday.
  • This leaves the rolling 5-day sum of the fixing error back to +20pips, versus +36pips yesterday. This is close to neutral though from a trend standpoint.
  • CNH has traded with a positive bias today, back under 6.7800, but support has still been evident closer to 6.7700. Dips below this figure level were support through Monday's session.
  • The other focus point will be onshore spot, which led weakness against the USD yesterday. USD/CNY ended yesterday at 6.7719.

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.