# Downside pressure persists on USD/CNY – Danske Bank — Octa

> Danske Bank's chief analyst expects USD/CNY to keep grinding lower, with the pair near 6.63, its strongest yuan level since November 2016. The dollar index has fallen back to early-2015 levels, and recent data has failed to lift the greenback. The analyst sees the yuan weakening against the dollar later as growth softens around the autumn party congress.

- Date: 2017-08-29 · published 2017-08-29T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/10855-downside-pressure-persists-on-usd-cny-danske-bank-octa
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A weaker dollar and firmer yuan lower the local-currency cost of dollar-priced feed imports for China, which can support US soybean and corn demand sentiment. The move is mainly dollar-driven, so it is a modest factor for feed ingredient prices.

## Read by commodity

- DXY: bearish ▼
- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2017-10-12 | [USD/CNY: Volatility interpreted as more to the downside - Westpac — Octa](https://feedsoft.ai/events/6411-usd-cny-volatility-interpreted-as-more-to-the-downside-westpac-octa.md) | +0.6% | +0.6% |
| USDCNY | 2017-06-29 | [CNY rally on the back of broad USD depreciation - Westpac — Octa](https://feedsoft.ai/events/11185-cny-rally-on-the-back-of-broad-usd-depreciation-westpac-octa.md) | +0.0% | -0.8% |
| USDCNY | 2017-12-05 | [CNY: Capital outflow pressures eased – Westpac — Octa](https://feedsoft.ai/events/67714-cny-capital-outflow-pressures-eased-westpac-octa.md) | -0.0% | -1.8% |
| USDCNY | 2025-08-28 | [US Dollar: China Allows Faster USD/CNY Gains as Selling Pressure Hits Greenback \| Investing.com](https://feedsoft.ai/events/23544-us-dollar-china-allows-faster-usd-cny-gains-as-selling-pressure-hits-greenback.md) | -0.2% | -0.3% |
| 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% |
| DXY | 2017-06-29 | [CNY rally on the back of broad USD depreciation - Westpac — Octa](https://feedsoft.ai/events/11185-cny-rally-on-the-back-of-broad-usd-depreciation-westpac-octa.md) | +0.3% | -1.7% |
| DXY | 2024-07-31 | [USD/CAD extends downside to 1.3800 after US/Canada economic data — Octa](https://feedsoft.ai/events/29503-usd-cad-extends-downside-to-1-3800-after-us-canada-economic-data-octa.md) | -0.5% | -1.9% |
| DXY | 2018-01-31 | [Dollar remains under pressure ahead of FOMC - BBH — Octa](https://feedsoft.ai/events/67167-dollar-remains-under-pressure-ahead-of-fomc-bbh-octa.md) | +0.4% | +1.2% |

## Sources

- octaafrica.net: https://www.octaafrica.net/markets/news/view/483243/

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