China's yuan hovers near 16-month low despite official support

After 398 past bullish macro events, USDCNY moved a median +0.0% over 5 sessions (56% higher; middle half -0.3% to +0.5%), and +0.0% over 20.

• Jun 21, 2023China's yuan dips to 7-month low on lack of stimulus news, dollar strength | The Business Standard+0.5%
• May 9, 2022Chinese Yuan Slips To An 18-Month Low - Asia Financial News+1.8%
• May 13, 2022China’s yuan extends declines to new 19 month low, set for 6th weekly drop-1.1%
• Mar 8, 2023China's yuan weakens to 2-month low, with key 7-per-dollar level in sight - The Business Times-1.3%
• Jul 30, 2018China's yuan hits 13-month low on weaker fixing and depreciation bets+0.3%

After 273 past bearish macro events, SOY moved a median -0.4% over 5 sessions (44% higher; middle half -2.4% to +1.4%), and -0.5% over 20.

• Apr 21, 2022China's yuan slides to 6-month low as tightening prospects help dollar | Financial Post-1.2%
• Nov 12, 2024China’s yuan weakens to 3-1/2-month low as Trump tariff threat weighs - Markets - Business Recorder-0.2%
• May 29, 2024Chinese yuan falls to six-month low on dollar strength - Nikkei Asia-4.1%
• Nov 9, 2018Timeline of China's recent measures to stabilise yuan near key level+2.4%
• May 30, 2024Yuan Hits Six-Month Low Amid Dollar Surge - Finimize-3.0%