Free Trial
US EURODLR FUTURES

Post-LIBOR Settle Update: Implied Hike Holding Steady

MEXICO

December Trade Surplus Wider Than Expected

SONIA

SONIA FIX - 27/01/23

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

CNY Fixing Surprise Much More Modest, But In Line With Stronger Spot Levels

CNH

The USD/CNY fixing printed at 7.1570, versus a Bloomberg consensus of 7.1629

  • Today's outcome represents a -59pip surprise in USD/CNY terms. This compares with yesterday's outcome of -843pips. Today’s fixing surprise is the smallest since late August.
  • Still, it needs to be seen in the context of much lower spot levels. USD/CNY spot closed at 7.1730 yesterday. The authorities will likely be hoping that spot and the fixing rate can be more closely aligned with each other going forward. Spot had been threatening the topside of the daily trading limit (+2% above the fixing level) in recent sessions.
  • USD/CNH moved higher post the fixing, spiking above 7.1900, but we are now back below 7.1800. Earlier session lows come in close to 7.1660.

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.