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CNY Fixing - Stronger Than Expected But Error Term Is Narrower Than Thurs/Fri Last Week

CNH

The USD/CNY fix printed at 7.1451, versus a Bloomberg consensus of 7.1749.

  • Today's outcome is a -298pip deviation in USD/CNY terms. This is narrower than Friday's -452pip deviation and Thursday -680pip outcome.
  • Still, the 5-day rolling sum of the error term is at fresh wides to -1905pips.
  • USD/CNH has drifted away from 7.1900 in early dealings today, but has seen support emerge sub 7.1800 (last around 7.1840).

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