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CNY Fixing - Still Close To Neutral

CNH

The USD/CNY fix printed at 6.9506, versus a Bloomberg consensus of 6.9512.

  • Today's fix represents a -6pip surprise in USD/CNY terms, similar to yesterday's -3pip outcome and still very close to neutral. The rolling 5-day sum of the fixing error term is slightly negative at -17pips.
  • USD/CNH was offered in the first part of trade, in line with a softer USD tone against the majors (low was 6.9555), but we are now back to 6.9600, unchanged for the session. Coming up is the April activity data dump.

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