CNH: USD/CNY Fixing Lower, Fixing Error Shrinks
Sep-11 01:20
The USD/CNY fixing printed a t7.1034, versus a BBG market consensus of 7.1167. * The fixing is down...
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CNH: USD/CNY Fixing Edges Up, Error Term Stays Wide
Aug-12 01:19
The USD/CNY fix printed at 7.1418, versus a Bloomberg market consensus of 7.1905.
- The fixing edged higher, in line with a higher market consensus estimate. The fixing error was a little wider at -487pips, versus -464pips yesterday. The USD has steadied somewhat in recent sessions, so a wider fixing error is consistent with this backdrop.
- So far today, USD/CNH has edged down a little, last near 7.1925, we ended Monday US trade closer to 7.1950.
CHINA SETS YUAN CENTRAL PARITY AT 7.1418 TUES VS 7.1405
Aug-12 01:15
- CHINA SETS YUAN CENTRAL PARITY AT 7.1418 TUES VS 7.1405
FOREX: AUD Crosses - Drift Higher Into The RBA
Aug-12 01:10
US Equities stalled and drifted lower in the N/Y session as some risk was pared back going into the US CPI. This morning US futures have opened pretty muted, ESU5 +0.05%, NQU5 +0.05%. The AUD is drifting higher in most of the crosses going into the RBA albeit within recent ranges , GBP/AUD the only one to go against the grain as it attempts to hold above 2.0600.
- EUR/AUD - Overnight range 1.7816 - 1.7892, Asia is currently trading around 1.7830. The pair is trading sideways with very little direction. The direction US stocks ultimately decide on following will have a direct impact on the direction of this pair. It is currently comfortable in the middle of its 1.7650/1.8050 range.
- GBP/AUD - Overnight range 2.0594 - 2.0659, Asia is trading around 2.0615. The pair continues to find good demand towards the lower end of its 2.0400 - 2.1050 range; it has topped out twice now just above 2.0650. RBA today will be an important input.
- AUD/JPY - Overnight range 96.00 - 96.53, Asia is trading around 96.65. The pair has bounced and is testing its first resistance around the 96.50 area. There should be sellers around here initially, a sustained break below 94.50/95.00 is needed to signal a deeper move lower or a break above 97.50 would reinstate the momentum higher.
- AUD/NZD - Overnight range 1.0958 - 1.0979, the cross is dealing in Asia around 1.0965. The Cross continues to trade sideways after stalling towards the 1.1000 area once more. The range looks to be 1.0850-1.1000 for now.
Fig 1: AUD/JPY spot Daily Chart
Source: MNI - Market News/Bloomberg Finance L.P
