# Experts see steady FX in H2 on recovery outlook - Chinadaily.com.cn

> Chinese officials and experts said the foreign exchange market should stay steady in the second half of 2023 as supportive economic policies take effect. They argued that recent rate cuts are more likely to support the yuan over the medium term than weaken it.

- Date: 2023-06-16 · published 2023-06-16T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/11234-experts-see-steady-fx-in-h2-on-recovery-outlook-chinadaily-com-cn
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Official signals of yuan stability reduce near-term currency-driven swings in Chinese import costs. The effect on feed commodity prices is limited.

## Read by commodity

- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2022-11-14 | [RMB recovers on economic resilience - Chinadaily.com.cn](https://feedsoft.ai/events/38902-rmb-recovers-on-economic-resilience-chinadaily-com-cn.md) | -0.9% | -2.9% |
| USDCNY | 2020-07-31 | [Experts expect Chinese yuan to keep steady upward trend in H2 - Xinhua Silk Road](https://feedsoft.ai/events/52329-experts-expect-chinese-yuan-to-keep-steady-upward-trend-in-h2-xinhua-silk-road.md) | -0.8% | -1.6% |
| USDCNY | 2019-04-29 | [GDP, inflows may buoy yuan - Chinadaily.com.cn](https://feedsoft.ai/events/59804-gdp-inflows-may-buoy-yuan-chinadaily-com-cn.md) | +0.1% | +2.5% |
| USDCNY | 2020-01-14 | [China's yuan strengthens to 5-month high - Chinadaily.com.cn](https://feedsoft.ai/events/55313-china-s-yuan-strengthens-to-5-month-high-chinadaily-com-cn.md) | +0.2% | +1.1% |
| USDCNY | 2018-01-22 | [Yuan may rise more on weaker dollar: analysts - World - Chinadaily.com.cn](https://feedsoft.ai/events/11867-yuan-may-rise-more-on-weaker-dollar-analysts-world-chinadaily-com-cn.md) | -1.2% | -0.9% |

## Sources

- chinadaily.com.cn: https://www.chinadaily.com.cn/a/202306/16/WS648bac16a31033ad3f7bc8c9.html

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