CNH: USD/CNY Fixing Edges Down, Fixing Error Narrows Sharply
Feb-21 01:24
The USD/CNY fixing printed at 7.1696, versus a Bloomberg market consensus of 7.2460.
- The fixing edged down, but remains within recent ranges. The fixing error narrowed sharply to -764pips, in line with Thursday's sharp USD pull back.
- USD/CNH is higher in early Friday dealings, as broader USD sentiment has stabilized somewhat. We were last near 7.2490. This is line with some of the majors, particularly yen, losing mdoest ground against the USD.
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CNH: USD/CNY Fixing Dips A Touch, Error Terms Narrows
Jan-22 01:18
The USD/CNY fix printed at 7.1696, versus 7.2659 per the BBG market consensus.
- Today's fixing is lower than yesterday's outcome (7.1703), albeit just. The fixing error narrowed further, last at -963pips, from -1231pips yesterday.
- USD/CNH hasn't shifted much post the fixing, last 7.2475, holding sub session highs, which came earlier following a fresh Trump tariff warning (10% on China, potentially from Feb 1).
MNI: CHINA SETS YUAN CENTRAL PARITY AT 7.1696 WED VS 7.1703
Jan-22 01:16
- CHINA SETS YUAN CENTRAL PARITY AT 7.1696 WED VS 7.1703
US TSYS: Tsys Yields Opening Higher, Trump Says 10% Tariffs On China
Jan-22 01:11
- Cash tsys yields are opening 1-2bps higher in Asia, the belly is under performing slightly, giving back some of Tuesday out performance. The 10yr is +1.6bps at 4.593%
- The 2s10s curve is holding steady at 30bps, while the 5s30s is -1bps at 40.306.
- Headlines from Trump have been trickling out, however there has been nothing we hadn't already expected. There were comments about 10% tariffs on goods imported from China on Feb. 1 because fentanyl is being sent from China to Mexico and Canada. There has also been comments about sanctions on Russia if they don't negotiate with Ukraine.
