CNH: CNY Fixing - Another Stronger Than Expected Outcome
Jul-21 01:18
The USD/CNY fix printed at 7.1456, versus a Bloomberg consensus of 7.1908.
- Today's fix represents a -452pip surprise in USD/CNY terms. This compares with yesterday's -680pip outcome. For the past week, the cumulative fixing error has been -1665.
- Today's outcome is still the second largest deviation, relative to expectations, since early November last year.
- USD/CNH initially dipped post the fixing, but has been supported on this move ahead of the 7.1700 level. The pair last back close to session highs near 7.1800.
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CNH: CNY Fixing - Slightly Weaker, But Still Close To Neutral
Jun-21 01:18
The USD/CNY fix printed at 7.1795, versus a Bloomberg consensus of 7.1774.
- Today's fix represents a +21pip surprise in USD/CNY terms. This largely reverses the -32pip surprise we saw yesterday. The 5-day rolling sum of the fixing error is back to -25pips (form -45pips yesterday).
- USD/CNH has been probing fresh cyclical highs in the first part of trade today, as broader USD sentiment is slightly positive. The fixing result shouldn't stand in the way of fresh USD/CNH gains (the pair in the 7.1920/30 region at the time of writing).
CNH: USD/CNH Prints Fresh Highs Ahead Of The CNY Fixing
Jun-21 01:11
USD/CNH is pushing higher ahead of the CNY fix, the pair getting to a high just short of 7.1930 a few moments ago. This is a touch above cyclical highs from the 15th of June, which were above 7.1920. We sit slightly lower now, last near 7.1900. Broader USD sentiment is slightly firmer, which is likely supporting the pair.
BOJ: Fixed Rate Purchase Offer
Jun-21 01:10
The BoJ offers to buy an unlimited amount of 5- to 10-Year JGBs at a fixed rate of 0.50%.
