October 10, 2023 01:19 GMT
CNY Fixing - Firmer Than Projected, But Fixing Error Narrows
The USD/CNY fix printed at 7.1781, versus a Bloomberg consensus of 7.2776.
- Today's fix represents a -995pip surprise in USD/CNY terms. This compares with yesterday's -1186pip outcome. This is the narrowest fixing error term since 18 September.
- The actual fix was very close to yesterday's outcome, which printed at 7.1789.
- USD/CNH is tracking lower currently, the pair testing the 7.2800 level, which is fresh lows back to mid September. Broader USD sentiment is softer, amid the yield pull back and generally positive equity market trends.