# USD/CNY to tick down in the year ahead - MUFG - Forex Crunch

> MUFG economists expect USD/CNY to decline in 2021 as the renminbi strengthened after the NYSE dropped plans to delist three Chinese state-run telecoms groups. They attribute the renminbi's rebound to expectations of a less combative US approach toward China under the incoming Biden administration.

- Date: 2021-01-05 · published 2021-01-05T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/12072-usd-cny-to-tick-down-in-the-year-ahead-mufg-forex-crunch
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Expectations of easing US-China trade tensions and a firmer yuan could support Chinese import demand for US commodities. The effect on feed prices is indirect.

## Read by commodity

- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2020-10-09 | [USD/CNY catch-up may have more to go - MUFG - Forex Crunch](https://feedsoft.ai/events/5560-usd-cny-catch-up-may-have-more-to-go-mufg-forex-crunch.md) | -1.4% | -2.7% |
| USDCNY | 2020-08-26 | [USD/CNY: Yield advantage to strengthen the yuan - HSBC - Forex Crunch](https://feedsoft.ai/events/51836-usd-cny-yield-advantage-to-strengthen-the-yuan-hsbc-forex-crunch.md) | -1.2% | -1.5% |
| 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 | 2019-02-22 | [CNY: Tail risk of a competitive devaluation to be reduced? - ING - Forex Crunch](https://feedsoft.ai/events/60809-cny-tail-risk-of-a-competitive-devaluation-to-be-reduced-ing-forex-crunch.md) | -0.4% | -0.4% |
| USDCNY | 2020-12-15 | [In Depth: What’s Next for the Yuan After Crushing the Dollar for Six Months - Caixin Global](https://feedsoft.ai/events/49864-in-depth-what-s-next-for-the-yuan-after-crushing-the-dollar-for-six-months.md) | +0.0% | -1.1% |

## Sources

- forexcrunch.com: https://www.forexcrunch.com/blog/2021/01/05/usd-cny-to-tick-down-in-the-year-ahead-mufg/

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