Loading…
Bloomberg reports that a debate has emerged over whether Beijing should devalue the yuan sharply to support its weak economy. Supporters argue a large depreciation would boost exports and free the central bank to cut interest rates.
A large yuan devaluation would make Chinese imports of dollar-priced feed ingredients more expensive, which could cut demand and pressure global prices, though no decision has been made.
bloomberg.comTania ChenApr 29, 2024After 398 past bullish macro events, USDCNY 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.
