CNH: CNY Fixing Surprise Much More Modest, But In Line With Stronger Spot Levels
Oct-27 01:22
The USD/CNY fixing printed at 7.1570, versus a Bloomberg consensus of 7.1629
- Today's outcome represents a -59pip surprise in USD/CNY terms. This compares with yesterday's outcome of -843pips. Today’s fixing surprise is the smallest since late August.
- Still, it needs to be seen in the context of much lower spot levels. USD/CNY spot closed at 7.1730 yesterday. The authorities will likely be hoping that spot and the fixing rate can be more closely aligned with each other going forward. Spot had been threatening the topside of the daily trading limit (+2% above the fixing level) in recent sessions.
- USD/CNH moved higher post the fixing, spiking above 7.1900, but we are now back below 7.1800. Earlier session lows come in close to 7.1660.
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JGBS: Space Looks Through Unscheduled BoJ Rinban
Sep-27 01:19
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BOJ: Fixed Rate Operation Offer
Sep-27 01:18
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Sep-27 01:13
The BoJ offers to buy a total of Y250bn of JGBs from the market as it looks to protects its YCC mechanism:
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