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CNY Fixing - Back To Neutral

CNH

The USD/CNY fix printed at 6.9666, versus a Bloomberg consensus of 6.9667.

  • Today's outcome represents a -1pip surprise in USD/CNY terms. Note yesterday's outcome was -56pips. This takes the 5-day rolling sum of the error term to -78pips.
  • This fixing result may signify some comfort with USD/CNY levels as we have moved away from a test of the 7.00 handle in the near term.
  • USD/CNH sits around the 6.9650 level currently, down slightly for the session. We have been wedged between the 6.9630/6.9700 region since the start of the session.

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