© 1982-2022 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial
AUDUSD TECHS

Bullish Price Sequence

US TSYS

Eurodollar/SOFR/Treasury Option Roundup

FOREX

USD Index Matches Wednesday Low And Bounces

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
Trending Top 5
Topics

CNY Fixing Back To Firmer Bias

CNH
EM Bulletmarkets-real-timeEmerging MarketsCommoditiesBulletMarketsFixed IncomeForeign Exchange

The USD/CNY fixing printed at 6.6863, versus a market estimate of 6.6892. Note the range of market estimates was 6.6866 to 6.6967, so we fell just below the bottom end of the range.

  • Today's fixing is a downside of -29pips surprise in USD/CNY terms, reversing this week's modest trend of upside surprises.
  • We have to go back to May 25th to see a larger downside surprise. The 5-day rolling sum of the error term is back to -6pips from +15pips yesterday.
  • USD/CNH has edged away from the session highs of close to 6.7000 post the fix, we now sit back at 6.6960. CNH is outperforming broader USD strength seen against the majors today.
  • Coming up soon is the Caixin manufacturing PMI print. 50.2 is expected versus 48.1 previously.
128 words

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.

The USD/CNY fixing printed at 6.6863, versus a market estimate of 6.6892. Note the range of market estimates was 6.6866 to 6.6967, so we fell just below the bottom end of the range.

  • Today's fixing is a downside of -29pips surprise in USD/CNY terms, reversing this week's modest trend of upside surprises.
  • We have to go back to May 25th to see a larger downside surprise. The 5-day rolling sum of the error term is back to -6pips from +15pips yesterday.
  • USD/CNH has edged away from the session highs of close to 6.7000 post the fix, we now sit back at 6.6960. CNH is outperforming broader USD strength seen against the majors today.
  • Coming up soon is the Caixin manufacturing PMI print. 50.2 is expected versus 48.1 previously.