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CNY Fixing Slight Downside Surprise

CNH

The USD/CNY fix printed at 6.7437, versus a market estimate of 6.7422.

  • Today's fix is a +15pip surprise in USD/CNY terms, following yesterday's outcome which showed only a +2pip deviation. The general trend remains for upside surprises with 7 out of the last 10 sessions exhibiting this trait.
  • Still, the 5-day rolling sum of the error term remains a modest +31 pips, versus +30 pips yesterday.
  • USD/CNH has been range bound today, not drifting too far away form 6.7450 in the early part of the session.
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The USD/CNY fix printed at 6.7437, versus a market estimate of 6.7422.

  • Today's fix is a +15pip surprise in USD/CNY terms, following yesterday's outcome which showed only a +2pip deviation. The general trend remains for upside surprises with 7 out of the last 10 sessions exhibiting this trait.
  • Still, the 5-day rolling sum of the error term remains a modest +31 pips, versus +30 pips yesterday.
  • USD/CNH has been range bound today, not drifting too far away form 6.7450 in the early part of the session.