# China’s yuan steady after LPR cuts, eyes on US election - Markets - Business Recorder

> China's yuan was steady after the central bank cut one- and five-year loan prime rates by 25 basis points each. Market participants expected yuan strength to be capped until US election results are known, with the yuan down 1.2% in October.

- Date: 2024-10-21 · published 2024-10-21T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/28080-china-s-yuan-steady-after-lpr-cuts-eyes-on-us-election-markets-business-recorder
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Rate cuts and a softer yuan reflect easing policy and weaker purchasing power for Chinese importers, which can modestly weigh on demand for US feed grains.

## Read by commodity

- USDCNY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2024-10-31 | [China’s yuan eases ahead of US election, shrugs off strong PMI - Markets - Business Recorder](https://feedsoft.ai/events/28077-china-s-yuan-eases-ahead-of-us-election-shrugs-off-strong-pmi-markets-business.md) | +0.8% | +1.7% |
| USDCNY | 2021-10-18 | [Yuan slips after China's Q3 GDP slower than expected - Markets - Business Recorder](https://feedsoft.ai/events/7479-yuan-slips-after-china-s-q3-gdp-slower-than-expected-markets-business-recorder.md) | -0.8% | -0.8% |
| USDCNY | 2023-04-19 | [China’s yuan softens ahead of key lending rate moves - Markets - Business Recorder](https://feedsoft.ai/events/36607-china-s-yuan-softens-ahead-of-key-lending-rate-moves-markets-business-recorder.md) | +0.8% | +1.4% |
| USDCNY | 2023-11-16 | [China’s yuan weakens on persistent property sector woes - Markets - Business Recorder](https://feedsoft.ai/events/12025-china-s-yuan-weakens-on-persistent-property-sector-woes-markets-business.md) | -1.3% | -1.9% |
| USDCNY | 2024-01-31 | [China’s yuan eases after PMI, dragged by falling bond yields - Markets - Business Recorder](https://feedsoft.ai/events/32348-china-s-yuan-eases-after-pmi-dragged-by-falling-bond-yields-markets-business.md) | +0.2% | +0.3% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40328174

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