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​CNY Fixing Bias Holds Close To Neutral ​​

CNH

The USD/CNY fixing printed at 7.0421, versus a Bloomberg consensus of 7.0433

  • Today's outcome represents a surprise of -12pips in USD/CNY terms, which compares to yesterday's outcome of -4pips.
  • The 5-day rolling sum of the error term is almost back to flat, sitting at -46pips following today's outcome.
  • USD/CNH had a slightly firmer bias in the early part of trading, rising to 7.05, but we now sit back in the low 7.0400 region, little changed for the session.
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The USD/CNY fixing printed at 7.0421, versus a Bloomberg consensus of 7.0433

  • Today's outcome represents a surprise of -12pips in USD/CNY terms, which compares to yesterday's outcome of -4pips.
  • The 5-day rolling sum of the error term is almost back to flat, sitting at -46pips following today's outcome.
  • USD/CNH had a slightly firmer bias in the early part of trading, rising to 7.05, but we now sit back in the low 7.0400 region, little changed for the session.