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MNI China Daily Summary: Friday, March 24

MNI BRIEF: Taiwan Unemployment Up Slightly In February

MNI: PBOC Net Drains CNY173 Billion via OMOs Friday

MNI: UK MAR FLASH MANUF PMI 48.0 (FCST 49.7); FEB 49.3

PMI: Growth outside Germany and France strongest

MNI: EUROZONE MAR FLASH MANUF PMI 47.1 (FCST 49.0); FEB 48.5

MNI BRIEF: Yellen Says Americans' Deposits Are Safe

MNI BRIEF: Italy ESM Ratification Framed In EU’s Fiscal Debate

MNI: Freeland-Banks Well Capitalized, Budget To Focus Stimulus

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CNY Fixing: Back To Neutral

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The USD/CNY fix printed at 6.7604, versus a Bloomberg consensus of 6.7601.

  • Today's outcome is a +3pips surprise in USD/CNY terms, so very close to neutral. This differs slightly from the recent trend, which has seen the fixing come in on the stronger side of expectations.
  • However, the fixing error gap has remained fairly modest. The 5-day rolling sum sits at -74pips, versus -98pips yesterday.
  • USD/CNH has tracked a tight range today. We got close to 6.7620, but now back unchanged for the session at 6.7570. Coming up soon is the China official PMI prints for Dec.
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The USD/CNY fix printed at 6.7604, versus a Bloomberg consensus of 6.7601.

  • Today's outcome is a +3pips surprise in USD/CNY terms, so very close to neutral. This differs slightly from the recent trend, which has seen the fixing come in on the stronger side of expectations.
  • However, the fixing error gap has remained fairly modest. The 5-day rolling sum sits at -74pips, versus -98pips yesterday.
  • USD/CNH has tracked a tight range today. We got close to 6.7620, but now back unchanged for the session at 6.7570. Coming up soon is the China official PMI prints for Dec.