Yuan Pares Record Rally as Goldman Says Now’s the Time to Sell

After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.

• Sep 29, 2022CNY/USD: Why China’s Yuan Hit Record Lows Against the Dollar - Bloomberg-1.0%
• Jun 18, 2021Goldman’s Currie Says Buy Commodities Dip, Bull Case Intact - Bloomberg-0.2%
• Sep 30, 2021Dollar (USD) Rally Challenges China Recovery With Yuan (RMB) Gains - Bloomberg+0.0%
• Nov 16, 2016China’s Yuan Tumbles to Eight-Year Low as Banks Weaken Forecasts - Bloomberg+0.6%
• Nov 17, 2016A Primer on the Dollar's Surge - Bloomberg+1.1%

After 398 past bullish macro events, Chinese Yuan (CNY per USD) moved a median +0.0% over 5 sessions (56% higher; middle half -0.3% to +0.5%), and +0.0% over 20.

• Jan 14, 2025China Will ‘Try Very Hard’ to Slow Yuan’s Fall, UBS’ Wang Says - Bloomberg-0.8%
• Sep 29, 2022CNY/USD: Why China’s Yuan Hit Record Lows Against the Dollar - Bloomberg-1.2%
• Jan 16, 2017Yuan Top Forecaster Sees No End to Losses as China Economy Slows - Bloomberg-0.6%
• Nov 16, 2016China’s Yuan Tumbles to Eight-Year Low as Banks Weaken Forecasts - Bloomberg+0.5%
• Oct 24, 2022CNY/USD: China Yuan Weakens Past 7.3 Per Dollar, All-Time Low Since 2010 - Bloomberg+0.1%