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USD/CNY Fixing Close To Neutral

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The USD/CNY fixing printed at 7.1027, versus a Bloomberg consensus of 7.1035.

  • This leaves the fixing error close to flat (-8pips in USD/CNY terms). In the past 4 fixings the cumulative fixing error has been +16pips, so little bias is being shown.
  • The actual fix was set meaningfully lower compared to Friday's outcome (7.1124) in line with Friday's spot gains. It is also the lowest USD/CNY fixing outcome since mid May
  • USD/CNH is a little higher in the first part of Monday dealing, last above 7.0960. Earlier highs were close to 7.1000 though.
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The USD/CNY fixing printed at 7.1027, versus a Bloomberg consensus of 7.1035.

  • This leaves the fixing error close to flat (-8pips in USD/CNY terms). In the past 4 fixings the cumulative fixing error has been +16pips, so little bias is being shown.
  • The actual fix was set meaningfully lower compared to Friday's outcome (7.1124) in line with Friday's spot gains. It is also the lowest USD/CNY fixing outcome since mid May
  • USD/CNH is a little higher in the first part of Monday dealing, last above 7.0960. Earlier highs were close to 7.1000 though.