EUR/CNY 7.4948 (−0.70%) and EUR/USD 1.1187 (−0.63%) both weakened, pulling RMB landed cost of euro-quoted cargoes lower. CIPS euro direct clearing drops the dollar leg.

EUR/CNY rose to 7.5522 (+0.4042) and EUR/USD to 1.1269 (+0.4457), the euro up against both the dollar and the yuan, repricing the EU trade book and refiner energy cost; against a steady yen and stronger won, the FX mismatch is more complex.

The euro strengthened on its own tonight to 7.5406 against the yuan (+0.0717) and 1.1253 against the dollar (+0.1246). The yen (USD/JPY 157.83) and won (USD/KRW 1342.53) also firmed versus the dollar while the yuan held at 6.705, reshuffling Northeast Asian competitiveness.

EUR/CNY 7.5243 and EUR/USD 1.1231 both fell while USD/CNY held at 6.7050; EUR-settled crude landed RMB rises, and CIPS euro direct clearing skips two FX spreads.

EUR/CNY at 7.6060 and EUR/USD at 1.1347, the euro firmed on both legs today. Euro-quoted transfer cargoes now cost more on arrival, and CIPS euro direct clearing cuts the FX leak from 0.3–0.5pp to under 0.1pp.

The euro fell against both the dollar and the yuan, pushing up landed cost for euro-priced crude transshipments; CIPS EUR direct clearing cuts the FX leg.

EUR/USD fell to 1.1367 and EUR/CNY to 7.6253, lowering delivered cost of euro-priced crude; CIPS euro direct clearing compresses T+1 to same-day, yet the yen leg still needs hedging.

EUR/USD rose to 1.1391 (+0.1319) and EUR/CNY to 7.6460 (+0.1244), while USD/CNY eased to 6.7125. Euro-zone buyers pay more for RMB-quoted cargoes; back-to-back euro settlement widens the re-export margin.