Free Trial

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.

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.