# Euro Surges on Draghi, While Yuan Rises on Suspected PBOC Action - Marc to Market  Marc Chandler on Global FX and Capital Markets

> ECB President Draghi said transitory factors were holding back inflation, and the euro rallied to a nine-day high near $1.1260. The yuan also rose on suspected PBOC action.

- Date: 2017-06-27 · published 2017-06-27T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/11184-euro-surges-on-draghi-while-yuan-rises-on-suspected-pboc-action-marc-to-market
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md), [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A stronger euro and a firmer yuan both reflect a weaker dollar, which tends to support dollar-denominated commodity prices. The direct effect on feed markets is small.

## Read by commodity

- EURUSD: bullish ▲
- USDCNY: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| USDCNY | 2017-06-27 | 1 | -0.4% | -3.3 | Same-day report of the yuan rising on suspected PBOC action alongside a broad dollar decline after Draghi's comments, supporting both intervention and dollar weakness as drivers. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2017-06-28 | [Euro touches one-year high as markets react to Draghi – The Irish Times](https://feedsoft.ai/events/70719-euro-touches-one-year-high-as-markets-react-to-draghi-the-irish-times.md) | +0.3% | +2.9% |
| EURUSD | 2017-09-07 | [European markets buoyed by ECB inaction; all eyes on Draghi \| AP News](https://feedsoft.ai/events/69159-european-markets-buoyed-by-ecb-inaction-all-eyes-on-draghi-ap-news.md) | -0.4% | -1.5% |
| EURUSD | 2018-09-24 | [Euro rises sharply as ECB's Draghi views tighter labor market](https://feedsoft.ai/events/63251-euro-rises-sharply-as-ecb-s-draghi-views-tighter-labor-market.md) | -1.0% | -2.3% |
| EURUSD | 2026-02-11 | [Euro and yuan global ambitions hasten the dollar drop \| Reuters](https://feedsoft.ai/events/20808-euro-and-yuan-global-ambitions-hasten-the-dollar-drop-reuters.md) | -0.7% | -2.8% |
| EURUSD | 2017-05-23 | [Economic prospects to maintain support for the euro \| Capital Economics](https://feedsoft.ai/events/71210-economic-prospects-to-maintain-support-for-the-euro-capital-economics.md) | -0.5% | -1.0% |
| USDCNY | 2019-11-03 | [Charts Suggest Scope for One More Push Lower for the Dollar before a Correction - Marc to Market  Marc Chandler on Global FX and Capital Markets](https://feedsoft.ai/events/56265-charts-suggest-scope-for-one-more-push-lower-for-the-dollar-before-a-correction.md) | -0.6% | +0.3% |
| USDCNY | 2024-02-06 | [China’s yuan rises on firmer-than-expected fix, stock market support - Markets - Business Recorder](https://feedsoft.ai/events/31899-china-s-yuan-rises-on-firmer-than-expected-fix-stock-market-support-markets.md) | -0.1% | -0.0% |
| USDCNY | 2024-11-13 | [PBOC pulls China’s yuan off 3-month low with stronger-than-expected fix - Markets - Business Recorder](https://feedsoft.ai/events/6696-pboc-pulls-china-s-yuan-off-3-month-low-with-stronger-than-expected-fix-markets.md) | +0.1% | +0.4% |

## Sources

- marctomarket.com: https://www.marctomarket.com/2017/06/euro-surges-on-draghi-while-yuan-rises.html

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