# USD/CNY: Volatility interpreted as more to the downside - Westpac — Octa

> Westpac analyst Frances Cheung said USD/CNY was fixed lower after PBoC Governor Zhou's comments on FX reform. She expects less aggressive fixing into the NPC if stability stays the priority. She sees range-trading in spot CNY in the coming days.

- Date: 2017-10-12 · published 2017-10-12T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/6411-usd-cny-volatility-interpreted-as-more-to-the-downside-westpac-octa
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Expected range-trading and less aggressive fixing point to a limited move in USD/CNY near term. Feed buyers exposed to Chinese import costs see little pricing change from this.

## Read by commodity

- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2017-06-29 | [CNY rally on the back of broad USD depreciation - Westpac — Octa](https://feedsoft.ai/events/11185-cny-rally-on-the-back-of-broad-usd-depreciation-westpac-octa.md) | +0.0% | -0.8% |
| USDCNY | 2017-08-29 | [Downside pressure persists on USD/CNY – Danske Bank — Octa](https://feedsoft.ai/events/10855-downside-pressure-persists-on-usd-cny-danske-bank-octa.md) | -1.1% | +0.4% |
| USDCNY | 2017-08-31 | [CNY seems to have decoupled from the broader market - Westpac — Octa](https://feedsoft.ai/events/69674-cny-seems-to-have-decoupled-from-the-broader-market-westpac-octa.md) | -1.7% | +1.0% |
| USDCNY | 2021-01-05 | [USD/CNY to tick down in the year ahead - MUFG - Forex Crunch](https://feedsoft.ai/events/12072-usd-cny-to-tick-down-in-the-year-ahead-mufg-forex-crunch.md) | +0.3% | +0.0% |
| USDCNY | 2017-12-05 | [CNY: Capital outflow pressures eased – Westpac — Octa](https://feedsoft.ai/events/67714-cny-capital-outflow-pressures-eased-westpac-octa.md) | -0.0% | -1.8% |

## Sources

- octaafrica.net: https://www.octaafrica.net/markets/news/view/499080/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.