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CNY Fixing - Slightly Firmer

CNH

The USD/CNY fix printed at 6.9101, versus a Bloomberg consensus of 6.9120.

  • Today's outcome is a -19pip surprise in USD/CNY terms. This is the largest downside surprise since Apr 24. It also goes against the recent trend of slightly positive surprises. Still, we aren't too far away from neutral.
  • USD/CNH is mostly lower, in line with softer USD trends elsewhere, with the pair last sub 6.9340, +0.10% firmer in CNH terms for the session. Coming up shortly is Apr inflation data.

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