January 31, 2023 01:20 GMT
CNY Fixing: Back To Neutral
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.