# CNY: No turning point – Commerzbank — Octa

> The yuan appreciated sharply against the dollar on July 25 after a PBoC 1-year tender rate cut and suspected state-bank intervention. Commerzbank strategists said the central bank was likely managing the currency to offset the perception that monetary easing weakens the yuan. They expect renewed pressure on the yuan over the longer term.

- Date: 2024-07-26 · published 2024-07-26T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/29508-cny-no-turning-point-commerzbank-octa
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A weaker yuan would raise the cost of imported feed ingredients for China, which may slow purchases of soybeans and meal. Intervention-driven moves make the currency path less predictable for buyers.

## Read by commodity

- USDCNY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2022-07-18 | [USD/CNY: Yuan-pessimistic view gains adepts – Commerzbank — Octa](https://feedsoft.ai/events/40704-usd-cny-yuan-pessimistic-view-gains-adepts-commerzbank-octa.md) | -0.1% | -0.2% |
| USDCNY | 2026-06-29 | [Chinese Yuan: China slowdown weighs on CNY against US Dollar – Commerzbank](https://feedsoft.ai/events/19039-chinese-yuan-china-slowdown-weighs-on-cny-against-us-dollar-commerzbank.md) | -0.0% | -0.5% |
| USDCNY | 2016-10-11 | [USD/CNY: We expect the bullish trend to continue - Danske Bank — Octa](https://feedsoft.ai/events/5890-usd-cny-we-expect-the-bullish-trend-to-continue-danske-bank-octa.md) | +1.0% | +1.6% |
| USDCNY | 2024-02-27 | [Yuan will likely remain weak as China continues to muddle through its structural challenges – Commerzbank — Octa](https://feedsoft.ai/events/31897-yuan-will-likely-remain-weak-as-china-continues-to-muddle-through-its.md) | +0.0% | +0.2% |
| USDCNY | 2016-06-23 | [USDCNY likely to continue heading higher – SocGen — Octa](https://feedsoft.ai/events/10885-usdcny-likely-to-continue-heading-higher-socgen-octa.md) | +0.9% | +1.5% |

## Sources

- octaafrica.net: https://www.octaafrica.net/markets/news/view/1109830/

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