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CNY Fixing Sticks To Weaker Bias

CNH

The USD/CNY fixing printed at 6.7114, versus a market estimate of 6.7104.

  • Today's fixing is a modest +10pip surprise in USD/CNY terms, continuing the recent trend of modest positive surprises this week.
  • The 5-day rolling sum of the error term is back to +15pips from flat yesterday. The 10-day rolling of the error term is almost back to flat as well (latest at -2pips).
  • USD/CNH has edged a little higher in trading today, although remains sub 6.7100 for now.
  • Coming up shortly is the official PMI prints, where the market expects both manufacturing and non-manufacturing indices to move back into expansion territory.
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The USD/CNY fixing printed at 6.7114, versus a market estimate of 6.7104.

  • Today's fixing is a modest +10pip surprise in USD/CNY terms, continuing the recent trend of modest positive surprises this week.
  • The 5-day rolling sum of the error term is back to +15pips from flat yesterday. The 10-day rolling of the error term is almost back to flat as well (latest at -2pips).
  • USD/CNH has edged a little higher in trading today, although remains sub 6.7100 for now.
  • Coming up shortly is the official PMI prints, where the market expects both manufacturing and non-manufacturing indices to move back into expansion territory.