# CNY at a glance: Is the worst of China’s depreciation pressure over? | ING THINK

> ING says short-term depreciation pressure on the yuan has eased as external factors outweigh domestic issues. The PBOC's counter-cyclical factor has fallen near zero, and ING's year-end USDCNY forecast is 7.10.

- Date: 2024-08-23 · published 2024-08-23T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/29028-cny-at-a-glance-is-the-worst-of-china-s-depreciation-pressure-over-ing-think
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A neutral PBOC stance and stabilizing yuan reduce currency-driven swings in Chinese import costs for feed grains and meal.

## Read by commodity

- USDCNY: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2025-01-20 | [CNY at a glance: A surprise post-US election outperformer \| ING THINK](https://feedsoft.ai/events/9597-cny-at-a-glance-a-surprise-post-us-election-outperformer-ing-think.md) | -1.0% | -0.6% |
| USDCNY | 2023-09-11 | [China issues strong warning against bets on renminbi depreciation](https://feedsoft.ai/events/34332-china-issues-strong-warning-against-bets-on-renminbi-depreciation.md) | -0.9% | -0.6% |
| USDCNY | 2025-04-29 | [Chinese yuan at a glance: There and back again \| articles \| ING THINK](https://feedsoft.ai/events/25350-chinese-yuan-at-a-glance-there-and-back-again-articles-ing-think.md) | -0.3% | -1.4% |
| USDCNY | 2018-06-28 | [GlobalSource Partners \| Can China sustain RMB depreciation?](https://feedsoft.ai/events/64733-globalsource-partners-can-china-sustain-rmb-depreciation.md) | +0.5% | +2.8% |
| USDCNY | 2023-02-28 | [USD/CNY: Yuan could see a modest appreciation in the coming quarters – Commerzbank — Octa](https://feedsoft.ai/events/37553-usd-cny-yuan-could-see-a-modest-appreciation-in-the-coming-quarters-commerzbank.md) | -0.2% | -0.9% |

## Sources

- think.ing.com: https://think.ing.com/articles/cny-at-a-glance-is-the-worst-of-chinas-depreciation-pressure-over/

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