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MNI: CHINA PBOC CONDUCTS CNY215 BLN VIA 7-DAY REVERSE REPO MON

Feb-10 01:21
  • CHINA PBOC CONDUCTS CNY215 BLN VIA 7-DAY REVERSE REPO MON

CNH: USD/CNY Fixing Steady, Error Term Widens

Feb-10 01:19

The USD/CNY fixing printed at 7.1707, versus a BBG market consensus of 7.3017.

  • The fixing is a touch higher relative outcomes last week, while the fixing error widened to -1310pips. This is beyond recent wides, but still around levels we saw in mid Jan (prior to Trump's inauguration).
  • The bias still appears to be stability from a USD/CNY fixing standpoint.
  • USD/CNH spot rose above 7.3160 in early trade on Trump tariff headlines around steel and aluminium tariffs to be announced today (later in the US time zone on Monday). However, we now sit back at 7.3060, little changed for the session. 

CHINA SETS YUAN CENTRAL PARITY AT 7.1707 MON VS 7.1699

Feb-10 01:15
  • CHINA SETS YUAN CENTRAL PARITY AT 7.1707 MON VS 7.1699