Free Trial

CNY Fixing - Trend Close To Neutral Again

CNH

The USD/CNY fix printed at 6.8523, versus a market estimate of 6.8511.

  • Today's fix was a slight upside surprise in USD/CNY terms of +12pips. This brings back the 5-day rolling sum of the error term to -12pips, from -30 pips, so nearing neutral levels once again.
  • Today's outcome is a little surprising given upside pressure in USD/CNH, but the magnitude of the error term remains quite modest.
  • USD/CNH has edged higher post the fixing, but remains close to session lows. The pair is back underneath 6.8700, last tracking at 6.8650. The USD has seen light selling pressure today, with the DXY back sub 109.00.

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.