CNH: USD/CNY Fixing Edges Up, Fixing Term Slightly Wider
Aug-20 01:20
The USD/CNY fix printed at 7.1384, versus a BBG market consensus of 7.1905. * The fixing edged high...
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CNH: USD/CNY Fixing Edges Higher, Error Term Slightly Wider
Jul-21 01:19
The USD/CNY fix printed at 7.1522, versus a Bloomberg market consensus of 7.1786.
- Today's fix moved higher relative to Friday's outcome, but this was in line with a higher market consensus as well. The fixing error was slightly wider at -264pips.
- USD/CNH is little changed in the first part of trade today, last near 7.1800.
CHINA SETS YUAN CENTRAL PARITY AT 7.1522 MON VS 7.1498
Jul-21 01:15
- CHINA SETS YUAN CENTRAL PARITY AT 7.1522 MON VS 7.1498
FOREX: AUD Crosses - Trade Sideways, AUD/NZD Reacts To NZ CPI
Jul-21 01:10
US stocks are consolidating near their new all-time highs. This morning has seen US futures open slightly higher, ESU5 +0.12%, NQU5 +0.13%. The AUD trades sideways in the crosses as awaits a catalyst for some clearer direction.
- EUR/AUD - Friday night range 1.7833 - 1.7875, Asia is currently trading around 1.7865. The pair seems to be consolidating in a 1.7650 - 1.8050 range as the market awaits some clearer direction.
- GBP/AUD - Friday night range 2.0585 - 2.0650, Asia is trading around 2.0605. The pair bounced nicely off its support around 2.0500 and last week but has found some good supply in exactly the right spot as well drifting back off from the 2.0750 area. This pair is also now back within its wider 2.0450 - 2.1050 range with the 2.0750/2.0800 area acting as the pivot.
- AUD/JPY - Friday night range 96.66 - 96.96, Asia is trading around 96.60. The pair strangely gapped lower on the open in reaction to the Japanese election result it found good demand back towards the breakout area around 96.00, and this will need to hold to build a platform from which to probe higher again. The positive risk backdrop is providing tailwinds. CFTC Data shows a clear turning now as Asset managers reduced their shorts meaningfully and Leveraged accounts actually began to build JPY shorts.
- AUD/NZD - Friday night range 1.0911 - 1.0931, the cross is dealing in Asia around 1.0950. The cross moved higher this morning in response to the NZ CPI. Dips back to 1.0850/1.0900 should continue to find support as the pair tries to build momentum to move higher.
Fig 1: GBP/AUD spot Hourly Chart
Source: MNI - Market News/Bloomberg Finance L.P
