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China let the yuan break the 7-per-dollar level for the first time in more than a decade, falling about 1.4% on August 5, 2019. The move came days after Trump announced 10% tariffs on the remaining $300 billion of Chinese imports, ending a brief ceasefire.
A weaker yuan makes Chinese exports cheaper and raises the cost of US farm goods for Chinese buyers, which pressures US soybean demand. The escalation also points to further retaliation risk for US agricultural exports.
jp.reuters.com5 ago 2019
reuters.comAndrew Galbraith5 ago 2019Tras 803 eventos bajista de comercio pasados, Soja se movió una mediana de +0,0 % en 5 sesiones (51% al alza; mitad central entre -1,7 % y +1,7 %), y +0,9 % en 20.
Tras 40 eventos alcista de comercio pasados, Yuan chino (CNY por USD) se movió una mediana de +0,6 % en 5 sesiones (75% al alza; mitad central entre +0,0 % y +1,4 %), y +1,1 % en 20.
Variaciones de la referencia de cada materia prima desde el último cierre antes del evento. Las lecturas históricas agrupan eventos pasados del mismo tipo; describen lo ocurrido, no lo que ocurrirá. No es asesoramiento de inversión.
China let the yuan break 7 per dollar on Aug 5, a drop of about 1.4%, after Trump's new 10% tariffs on $300B of goods, which directly explains the move.
The PBOC let the yuan break 7 per dollar on Aug 5 (about 1.4% in one day) after Trump's new tariff announcement, which directly drove most of the 5-day CNY move.
