Chinese Yuan Outlook: UBS Eyes Stronger Yuan As Currency Conversions Continue

After 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.

• Jun 1, 2017China crushes yuan bears, snubs Moody's as currency takes off-0.2%
• Aug 31, 2017Chinese yuan continues to climb against USD - People's Daily Online-1.7%
• Feb 8, 2018Yuan strengthens as investors move currency into country+1.3%
• Feb 23, 2018Chinese yuan against the dollar: China currency appreciation+0.1%
• Jun 30, 2020Chinese Yuan Gains on Strong PMI Readings, PBoC Easing-0.9%

After 50 past neutral macro events, SOY moved a median -0.3% over 5 sessions (48% higher; middle half -2.2% to +1.3%), and -0.8% over 20.

• Nov 13, 2024PBOC pulls China’s yuan off 3-month low with stronger-than-expected fix - Markets - Business Recorder-0.5%
• Aug 27, 2018China yuan counter-cyclical factor: currency tweak is trade war dovish-1.1%
• Oct 29, 2019PBOC set the onshore yuan at its strongest in 2 months+0.5%
• May 31, 2018Should U.S. Farmers Fret Over Falling Ag Currencies?-2.8%
• May 25, 2017StanChart’s chief economist says these four currencies will move most on Fed shock-3.8%