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Free AccessCNY Fixing - Slightly Firmer, But Still Close To Neutral
The USD/CNY fixing printed at 6.8643, versus a Bloomberg consensus of 6.8655.
- Today's fixing represents a -12pip outcome in USD/CNY terms, relative to expectations. This is modestly different from the tail end of last week, where the fixing error was positive.
- Still, we remain close to neutral in absolute terms. The rolling 5-day sum of the fixing error term is back to -20pips, from -3pips on Friday.
- USD/CNH got above 6.8800 in early trade, but is now back to 6.8730/40, slightly below NY closing levels from last Friday. As expected, the 5yr and 1yr LPR rates were left unchanged.
To read the full story
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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.