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Premier Li Qiang said in a keynote speech that China's second-quarter growth would beat the 4.5% recorded in the first quarter and remain on track for a target of around 5% in 2023. The speech lifted Chinese stocks but offered no details on new fiscal stimulus.
Optimism about growth without concrete stimulus may prove short-lived, so the outlook for Chinese feed demand and the yuan remains uncertain.
marketpulse.comKelvin WongJun 28, 2023After 50 past bearish policy events, Chinese Yuan (CNY per USD) moved a median -0.1% over 5 sessions (46% higher; middle half -0.4% to +0.4%), and -0.0% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
