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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.
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Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI China Daily Summary: Friday, December 13
MNI US OPEN - UK Economy Contracts for Second Straight Month
USD/CNY Fixing Error Wider
The USD/CNY fix printed at 7.1106, versus a Bloomberg consensus of 7.2503.
- Today's fixing delivered a -1397pips fixing error in USD/CNY terms. Not surprisingly wider than yesterday's -1320pip outcome.
- The actual fix ticked to a fresh high going back to January of this year, but was only 5pips above yesterday's outcome. Hence only allowing marginal room for further onshore depreciation pressures.
- USD/CNH was higher in earlier dealings (7.2667), but sits back at 7.2650 now, slightly above end Tuesday levels in NY.
To read the full story
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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.