CNH: USD/CNY Fixing Edges Up, Error Term Back To Negative
May-28 01:21
The USD/CNY fix printed at 7.1894, versus a BBG market consensus of 7.2014.
- The fixing error is back in negative territory to the tune of -120pips, which is in line with firmer USD levels over the past 24 hours. The actual fix was set a touch above Tuesday's outcome.
- USD/CNH is relatively steady so far today, last near 7.1890.
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CNH: USD/CNY Fixing To Multi Week Lows, But Still Above 7.2000
Apr-28 01:19
The USD/CNY fix printed at 7.2043, versus a BBG market consensus of 7.2843.
- The error term was slightly tighter at -800pips, versus -845pips on Friday. The actual fix dipped to its lowest level since April 8 (7.2038).
- USD/CNH is a little lower post the fixing, last back under 7.2900 but is still up from Friday lows near 7.2800.
CHINA SETS YUAN CENTRAL PARITY AT 7.2043 MON VS 7.2066
Apr-28 01:18
- CHINA SETS YUAN CENTRAL PARITY AT 7.2043 MON VS 7.2066
NEW ZEALAND: Filled Jobs & ANZ Business Survey Focus Of The Week
Apr-28 01:04
This week March filled jobs and the April ANZ business survey are released. Given most hard data are quarterly, both will be monitored to gauge how the economy is faring following 200bp of monetary easing. The next RBNZ decision is on May 28 and another 25bp rate cut is likely as growth remains subdued.
- March filled jobs print on Tuesday and while they appear to have stopped contracting, they have remained weak in Q1 with January +0.1% m/m and February flat. Q1 labour market data are released on May 7.
- ANZ’s business survey for April is out on Wednesday. Q1 average business confidence and activity outlook moderated from Q4 signalling that the recovery remains gradual. The price/cost components though trended higher in the quarter with pricing intentions rising 5 points in March to its highest in almost two years. These elements of the survey are likely to be watched closely.
- Thursday sees April CoreLogic home values, which have begun to show that the housing sector is recovering. March building permits print on Friday, which remain weak but signalling some tentative signs of improving.
