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Free AccessUSD/CNH Drifts Under 7.1600 As CNY Fixing Approaches
USD/CNH holds just under 7.1600 in recent dealings, a touch lower for the session so far. We opened closer to 7.1625. There should be some focus on the USD/CNY fixing, which is coming up in just under 20mins.
- For the first three sessions this week, the fixing has fallen reasonably sharply in USD/CNY terms. From last Friday where the fixing was at 7.1728, yesterday we got to 7.1254.
- Working against a lower fix today is a higher onshore spot close yesterday (7.1477, versus 7.1338 on Tuesday), while broader USD sentiment has also stabilized.
- USD/CNH has tended to fall sharply post each fixing result this week, although we didn't see fresh lows post yesterday's outcome, with the pair finding support near 7.1320, which is close to the 200-day MA.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.