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CNY Fixing - Error Term Holds Close To Recent Levels

CNH

The USD/CNY fix printed at 7.1811, versus a Bloomberg consensus of 7.2776.

  • Today's fix represents a -965pip surprise in USD/CNY terms. Yesterday's fixing error was -925pips, so we hold fairly close to that level.
  • USD/CNH is lower in early trade today, last near 7.2915, which is +0.15% firmer in CNH terms versus Wednesday's NY close. The broader USD is on the backfoot, with the BBDXY down sub 1235, -0.15% for the session so far.
  • Coming up shortly is the official China PMI prints for August.

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