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The yuan slipped to a seven-month low against the dollar and is on track for a sixth monthly decline amid persistent capital outflows. The PBOC has set weaker daily fixings for seven straight sessions, which suggests it may tolerate further depreciation.
Persistent yuan depreciation raises China's dollar-denominated import costs, which can slow feed buying and weigh on global grain and oilseed prices.
finimize.comFinimize NewsroomJun 27, 2024After 398 past bullish macro events, Chinese Yuan (CNY per USD) moved a median +0.0% over 5 sessions (56% higher; middle half -0.3% to +0.5%), and +0.0% 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.
