Free Trial

CNY Fixing Slightly Weaker Than Expected

CNH

The USD/CNY fix printed at 6.7543, versus a market estimate of 6.7532.

  • Today's fix represents a +11pip upside surprise in USD/CNY terms. This comes after last Friday's +14pip outcome. We have now had 4 sessions in a row of upside surprises, albeit modestly.
  • The 5-day rolling sum off error terms is back in positive territory to +14pips, versus -14pips at the end of last week.
  • USD/CNH hasn't reacted a great deal to today's fix. The pair has seen highs around 6.7670 for the session, but we are now back to 6.7630. CNH is clearly outperforming broader USD strength seen against the majors today.

To read the full story

Close

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.