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CNY Fixing: Still Modestly Firmer

CNH

The USD/CNY fix printed at 6.7382, versus a Bloomberg consensus of 6.7399.

  • Today's outcome represents a -17pip surprise in USD/CNY terms, versus -17pips yesterday. The 5-day rolling sum of the error term sits at -56pips, after today's fixing result.
  • The bias in USD/CNH has been slightly higher today, with the pair pushing above 6.7400. this is line with broader USD support evident. This is a carry over from Thursday's session.
  • Coming up in a little bit is the Caixin Services PMI (51.0 forecast, 48.0 prior).

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