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The offshore yuan weakened to about 6.92 per dollar, a four-week low, as oil surged amid the escalating US-Israeli war with Iran and Strait of Hormuz shipments were halted. China's February consumer inflation rose to a three-year high of 1.3%, above forecasts.
Higher oil prices and a weaker yuan raise China's import costs, while the Hormuz disruption tightens energy markets and supports feed and fertilizer costs.
tradingeconomics.comJoshua FerrerMar 9, 2026After 626 past bullish geopolitics events, Crude Oil (WTI) moved a median +2.1% over 5 sessions (62% higher; middle half -2.3% to +8.5%), and +1.6% over 20.
After 656 past bullish geopolitics events, Crude Oil (Brent) moved a median +1.9% over 5 sessions (63% higher; middle half -2.7% to +6.6%), and +0.7% over 20.
After 14 past bullish geopolitics events, Chinese Yuan (CNY per USD) moved a median -0.0% over 5 sessions (36% higher; middle half -0.4% to +0.2%), and -0.5% 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.
