Free Trial

CNY Fixing - Fixing Error Narrows, USD/CNH Higher

CNH

The USD/CNY fix printed at 7.1295, versus a Bloomberg consensus of 7.1355.

  • Today's outcome represents a -60pip surprise in USD/CNY terms. This is the narrowest surprise since July 17 (-58pips). The 5-day rolling sum of the error term came in slightly narrower at -2020pips (we were -2235pips yesterday).
  • Still, this is the lowest actual fixing outcome since June 19, which reflects the recent rebound the yuan.
  • USD/CNH is pressing higher though, now back above 7.1500 (last 7.1520/30, highs near 7.1560). This is nearly 0.25% weaker in CNH terms. Broader USD gains this morning, coupled with a narrower fixing error has contributed to the move.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.