Free Trial

CNY Fixing - Slightly Weaker Than Expected

CNH

The USD/CNY fix printed at 6.9054, versus the 6.9026 Bloomberg consensus.

  • Today's fix was a +28pip surprise in USD/CNY terms. This is the firmest surprise since early Jan this year.
  • This was the first fix post the May day holiday period. This may temper overinterpretation of the result, as we can often have deviations from expectations post holiday periods in China.
  • In terms of USD/CNH, we haven't seen a large reaction post the fix, with the pair slightly lower, back to the 6.9150/60 region. The pair opened above 6.9200 earlier.

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.