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USD/CNY Fixing Steady - Error Term Narrows ​​​​

CNH

The USD/CNY fix printed at 7.1772, versus a 7.2721 Bloomberg consensus estimate.

  • This outcome represents a -949pip surprise in USD/CNY terms. This compares with yesterday's -1053pip outcome. This is the narrowest fixing error since mid September, but all owes to the lower fixing estimate from the sell-side, rather than any material shifts in the actual fixing.
  • USD/CNH tracked within recent ranges in the first part of Thursday dealing, last near 7.2850.

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