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China's yuan eased slightly against the dollar on September 30 but was set for its biggest quarterly gain since 2020. Corporate unwinding of dollar holdings and Beijing's stimulus supported the currency, while state banks bought dollars to slow the gains.
A firmer yuan lowers the cost of dollar-priced imports for China, which supports feed-demand sentiment, but state intervention limits how far the currency moves.
brecorder.comReutersSep 30, 2024After 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.
