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CNY Fixing - Fixing Error Close To -1000pips

CNH

The USD/CNY fix printed at 7.1856, versus a Bloomberg consensus of 7.2845.

  • Today's fix represents an -989pip surprise in USD/CNY terms. This is slightly wider than the fixing errors from the tail end of last week, but remains tighter than recent record wides.
  • USD/CNH has tracked lower today. The pair last near 7.2700, around 0.30% firmer in CNH terms versus closing levels from the end of last week.
  • Equity market sentiment is in focus follow weekend news of the stock trading levy cut. FTSE China A50 futures are +4% in early trade today.

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