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CNY Fixing - Wedged Close To 7.1730, Fresh Fixing Wide Error

CNH

The USD/CNY printed at 7.1727, versus a Bloomberg consensus of 7.3133.

  • Today's fix represents a -1406pip surprise in USD/CNY terms. This is a fresh record wide in terms of the fixing error.
  • The actual fix was the same as yesterday's print at 7.1727. It appears though the fixing level may well remain steady in the lead up to the Golden Week holiday period, which kicks off this Friday.
  • USD/CNH is lower post the fixing outcome, bucking the slightly firmer USD tone against the majors.
  • We were last at 7.3120, earlier highs came in near 7.3170.

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