Free Trial

USD/CNY Fixing Back Sub 7.1300, Error Term Narrows Sharply

CNH

The USD/CNY fixing printed at 7.1270, versus a Bloomberg consensus of 7.2262.

  • The fixing dropped 51pips versus yesterday's outcome and was the lowest outcome since the start of July.
  • The fixing error, in USD/CNY terms, narrowed sharply to -992pips, versus -1373pips yesterday. This was the narrowest deviation since March 21 for the fixing error. Maintaining a wider fixing error would have implied a lower USD/CNY fixing level.
  • USD/CNH has tracked a little higher in early Friday dealings, although found selling interest above 7.2500. The pair was last 7.2475.
  • This is underperforming at the margins, slightly stronger tones in terms of the majors against the USD (although USD/JPY has tested above 154.00).

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.