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CHINA: USD/CNY Fixing Steady, Fixing Error Narrows

CHINA

The USD/CNY fix printed at 7.1692, versus a BBG market consensus of 7.2398.

  • This keeps the fixing within recent ranges. The fixing error narrowed to -706pips.
  • USD/CNH is at 7.244 in this morning’s trade.
  • The market is digesting a host of headlines from China's NPC, around 2025 targets. Growth is forecast to be 5%, while the CPI target was lowered to 2%.
  • Authorities are set to approve an increase in the amount of issuance by regional governments. 
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The USD/CNY fix printed at 7.1692, versus a BBG market consensus of 7.2398.

  • This keeps the fixing within recent ranges. The fixing error narrowed to -706pips.
  • USD/CNH is at 7.244 in this morning’s trade.
  • The market is digesting a host of headlines from China's NPC, around 2025 targets. Growth is forecast to be 5%, while the CPI target was lowered to 2%.
  • Authorities are set to approve an increase in the amount of issuance by regional governments.