# US election, jobs data to pressure China’s yuan as stimulus shores it up: analysts | South China Morning Post

> Analysts expect the yuan to be volatile as Beijing's stimulus package supports the currency while US election and jobs data add pressure. Goldman Sachs said significant fiscal easing would lift the yuan and could offset depreciation pressure from possible US tariff increases.

- Date: 2024-10-07 · published 2024-10-07T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/11041-us-election-jobs-data-to-pressure-china-s-yuan-as-stimulus-shores-it-up
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Two-way currency risk complicates the cost of Chinese import purchases, and a stronger yuan could weigh on Chinese exports. The outcome of US tariff policy is a key uncertainty for trade flows in agricultural commodities.

## Read by commodity

- USDCNY: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2024-08-30 | [China’s yuan volatility rising on interest rates, US presidential election: Goldman \| South China Morning Post](https://feedsoft.ai/events/29023-china-s-yuan-volatility-rising-on-interest-rates-us-presidential-election.md) | -0.1% | -1.2% |
| USDCNY | 2026-08-27 | [China keeps yuan in check as PBOC resists sharp rise against weaker US dollar: analysts \| South China Morning Post](https://feedsoft.ai/events/18094-china-keeps-yuan-in-check-as-pboc-resists-sharp-rise-against-weaker-us-dollar.md) | -0.1% | -0.1% |
| USDCNY | 2018-04-12 | [Analysis  \| Why devaluing the yuan is a no-no for China amid US trade war fears \| South China Morning Post](https://feedsoft.ai/events/65713-analysis-why-devaluing-the-yuan-is-a-no-no-for-china-amid-us-trade-war-fears.md) | +0.1% | +1.5% |
| USDCNY | 2018-12-24 | [China to keep yuan currency from sliding below 7 to the US dollar as part of trade war deal, analysts said \| South China Morning Post](https://feedsoft.ai/events/61790-china-to-keep-yuan-currency-from-sliding-below-7-to-the-us-dollar-as-part-of.md) | -0.7% | -2.3% |
| USDCNY | 2017-10-10 | [Chinese firms rush to hedge as yuan swings begin to sting \| South China Morning Post](https://feedsoft.ai/events/6416-chinese-firms-rush-to-hedge-as-yuan-swings-begin-to-sting-south-china-morning.md) | -1.0% | -0.3% |

## Sources

- scmp.com: https://www.scmp.com/economy/china-economy/article/3281398/us-election-jobs-data-pressure-chinas-yuan-stimulus-shores-it-analysts

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