
The yuan slipped from a seven-month high against the dollar after May industrial profits swung into sharp decline. The PBOC set the midpoint at 7.1627, and the CFETS basket index fell to its lowest since January 2021.
US and China reached an agreement to expedite rare earth shipments.
Weak Chinese industrial profits signal softer domestic demand for feed and meat, while the trade-truce progress is a mild positive for future US ag purchases.
After 362 past bearish macro events, Chinese Yuan (CNY per USD) moved a median -0.1% over 5 sessions (42% higher; middle half -0.4% to +0.1%), and -0.2% 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.