# Aussie dollar, offshore yuan dip after Moody's downgrades China

> The Australian dollar and offshore yuan dipped after Moody's cut China's sovereign rating to A1 from Aa3. The Australian dollar fell as much as 0.3 percent to $0.7455, and the yuan slipped to 6.8901 per U.S. dollar.

- Date: 2017-05-24 · published 2017-05-24T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/10564-aussie-dollar-offshore-yuan-dip-after-moody-s-downgrades-china
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A weaker yuan against the dollar reflects investor concern about China's debt and growth, which can weigh on China's demand sentiment for commodities. The moves were modest, so the direct price effect on feed markets is limited.

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2017-01-05 | [China’s offshore yuan surges most against dollar in a year](https://feedsoft.ai/events/73180-china-s-offshore-yuan-surges-most-against-dollar-in-a-year.md) | +0.1% | -1.0% |
| USDCNY | 2017-01-05 | [China's Offshore Yuan is Bossing the US Dollar Around Today](https://feedsoft.ai/events/10253-china-s-offshore-yuan-is-bossing-the-us-dollar-around-today.md) | +0.1% | -1.0% |
| USDCNY | 2023-12-06 | [China blue-chip stocks hit 5-year lows, yuan eases after Moody's move](https://feedsoft.ai/events/32925-china-blue-chip-stocks-hit-5-year-lows-yuan-eases-after-moody-s-move.md) | +0.4% | +0.2% |
| USDCNY | 2022-10-26 | [CNY/USD: Offshore Yuan Rises Most on Record as China Banks Sell Dollars - Bloomberg](https://feedsoft.ai/events/39355-cny-usd-offshore-yuan-rises-most-on-record-as-china-banks-sell-dollars-bloomberg.md) | +0.1% | -1.5% |
| USDCNY | 2017-01-05 | [Yuan's surge knocks dollar as China moves on speculators](https://feedsoft.ai/events/73171-yuan-s-surge-knocks-dollar-as-china-moves-on-speculators.md) | +0.1% | -1.0% |

## Sources

- reuters.com: https://www.reuters.com/article/markets-forex-china-downgrade-idUSL4N1IQ05J/

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