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China's central bank, under Governor Pan Gongsheng, announced its most aggressive stimulus since the pandemic, including lower borrowing costs, more liquidity and easier mortgage repayments. Chinese stocks and bonds rallied and the yuan jumped to a 16-month high against the dollar.
Stronger Chinese growth expectations and a firmer yuan could lift demand for imported feed ingredients and commodities, though the scale of follow-through is uncertain.
reuters.comRyan Woo, Liangping GaoSep 24, 2024After 362 past bearish macro events, USDCNY 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.
