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Free AccessUSDCNY Fixing Error Term Widens 60pips
USDCNY fixing printed at 7.1134 versus Bloomberg consensus of 7.1769, slightly higher than Monday’s level.
- The fixing error term widened moderately to -635pips from -575pips on Friday in USDCNY terms.
- USDCNH closed slightly lower on Monday at 7.185 but is currently 0.1% higher at 7.1938. We did dip to 7.1853 earlier in the APAC session and then spiked to 7.1949.
- On Wednesday there is a swathe of activity data including Q4 GDP, December IP, retail sales and jobless rate. Growth is expected to have picked up in the final month/quarter of 2023 with Q4 GDP forecast at 5.3% y/y and December IP at 4.5% but retail sales slowing to 8%.
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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.