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The ringgit hit its highest in more than three years, rising as much as 0.7% to 4.12 per dollar, as China's central bank cut medium-term lending rates following broad stimulus. Asian shares and emerging market currencies also rallied.
Chinese stimulus lifting regional risk sentiment supports demand expectations for commodities, though the effect on feed prices is indirect.
brecorder.comReutersOct 1, 2024Not enough comparable past events yet for a historical read.
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.
