Free Trial

CNY Fixing - Flat line Trend Continues

CNH

The USD/CNY fixing printed at 7.1105 versus a Bloomberg consensus estimate of 7.1663.

  • Today's outcome is similar to yesterday's in terms of surprise, -558pips in USD/CNY terms.
  • The actual fixing is a slight uptick on yesterday's outcome (7.1086). However, it remains just below highs for this cycle (7.1107 recorded on Sep 28).
  • So, we remain very steady from an actual fixing standpoint.
  • USD/CNH hasn't reacted a great deal to the fixing outcome, as has been the case recently. The pair sits above 7.2200 currently. We spiked towards 7.2300 earlier, which appeared to coincide with headlines around rising Covid case numbers in Beijing. Dips sub 7.2200 have been supported so far.

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.