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CNY Fixing: Mildly Firmer, But Trend Very Close To Neutral

CNH

The USD/CNY fixing printed at 6.7756, versus a Bloomberg consensus of 6.7784.

  • Today's outcome is close to neutral, with a -28pip surprise in USD/CNY terms. This is little different from yesterday's outcome, -29pips.
  • The 5-day rolling sum of the error term, is back to -5pips, so we are also close to neutral on this metric.
  • USD/CNH is tracking slightly higher, last back near 6.7900, with earlier dips towards 6.7800 finding some support. Broader USD sentiment has turned firmer against the majors, so this has likely spilled over into the CNH space.

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