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CNY Fixing A Touch Firmer

CNH

The USD/CNY fix printed at 6.7730, versus a market estimate of 6.7736.

  • Today's fix is a slight downside surprise of -6pips in USD/CNY terms.
  • The 5-day rolling sum of the error term has nudged a little lower compared to where we were recently. This metric is back to +25pips from +48pips yesterday and +39pips on Friday last week. So a modest shift lower, but nothing dramatic despite yesterday's surge higher in USD/CNH.
  • USD/CNH is away from earlier highs. The pair last tracked around 6.8120/25. We have seen just over a 100pip range so far today. Selling resistance is still evident close to 6.8200, but the dip to 6.8075/80 was supported.
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The USD/CNY fix printed at 6.7730, versus a market estimate of 6.7736.

  • Today's fix is a slight downside surprise of -6pips in USD/CNY terms.
  • The 5-day rolling sum of the error term has nudged a little lower compared to where we were recently. This metric is back to +25pips from +48pips yesterday and +39pips on Friday last week. So a modest shift lower, but nothing dramatic despite yesterday's surge higher in USD/CNH.
  • USD/CNH is away from earlier highs. The pair last tracked around 6.8120/25. We have seen just over a 100pip range so far today. Selling resistance is still evident close to 6.8200, but the dip to 6.8075/80 was supported.