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The yuan edged up against the dollar as signs of containment of the coronavirus outbreak emerged, with no new locally transmitted cases outside Hubei for a third day. President Xi visited Wuhan, the epicenter, for the first time since the virus was detected.
Easing virus fears reduce demand risk for commodities tied to Chinese growth and support risk appetite, though the yuan's gains are capped pending US stimulus; for feed buyers the effect is indirect and modest.
financialpost.comReutersMar 10, 2020After 362 past bearish macro events, Chinese Yuan (CNY per USD) moved a median -0.1% over 5 sessions (42% higher; middle half -0.4% to +0.1%), and -0.2% 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.
