CNH: USD/CNY Fixing Higher, But Error Term Rewidens On USD Bounce
Apr-23 01:25
The USD/CNY fix printed at 7.2116, versus a BBG market consensus of 7.3417.
- Today's fix saw a re-widening of the error term to -1301pips from -818pips yesterday. This fits with higher USD index levels over the past 24 hours.
- The actual fix was still below recent highs, which rest at 7.2133.
- USD/CNH dipped to lows of 7.2922 earlier, but sits back around 7.3050 in latest dealings. We saw earlier support for CNH following comments from US President Trump that the final tariff rate on China would be lower than the 145% that currently prevails.
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CNY: USD/CNY fix printed at 7.1780, versus a Bloomberg market consensus of 7.25
Mar-24 01:20
- Today's fixing had a -730pip error term, slightly wider than Friday's -694pip outcome.
- This is consistent with a slight USD index recovery, with the error term tending to widen when we see a bought of USD strength.
- The fix was +0.03% higher than the previous trading day according to CFETS.
CHINA SETS YUAN CENTRAL PARITY AT 7.1780 MON VS 7.1760
Mar-24 01:15
- CHINA SETS YUAN CENTRAL PARITY AT 7.1780 MON VS 7.1760
BOJ: Rinban Purchase Offer
Mar-24 01:10
The BoJ offers to buy a total of Y1000bn of JGBs from the market:
- Y300bn worth of JGBs with 1-3 Years until maturity
- Y300bn worth of JGBs with 3-5 Years until maturity
- Y325bn worth of JGBs with 5-10 Years until maturity
- Y75bn worth of JGBs with 25+ Years until maturity
