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CNY Fixing - Error Term Slightly Wider Today

CNH

The USD/CNY fix printed at 7.1318, versus a Bloomberg consensus of 7.1425.

  • Today's outcome is a -107pips downside in USD/CNY terms. This is slightly wider than -88pips yesterday. For the past week we have seen -804pips in cumulative downside surprises. This compares with last week, which saw a cumulative -1567pips.
  • USD/CNH is slightly lower in latest dealings, last just under 7.1500. We are at fresh lows at the moment, in the 7.1430/40 region. A break lower towards 137.50/60 is likely aiding CNH gains.

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