# China’s yuan eases after PMI, dragged by falling bond yields - Markets - Business Recorder

> China's yuan weakened against the dollar after a official factory survey showed the manufacturing PMI contracted for a fourth straight month in January. Long-dated government bond yields fell to their lowest in about 22 years on easing bets, and the PBOC set its midpoint at 7.1039.

- Date: 2024-01-31 · published 2024-01-31T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/32348-china-s-yuan-eases-after-pmi-dragged-by-falling-bond-yields-markets-business
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A weaker yuan and wider rate gap with the US make dollar-priced imports from China costlier and signal weak Chinese demand, a mild negative for feed-ingredient demand.

## Read by commodity

- USDCNY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2024-10-31 | [China’s yuan eases ahead of US election, shrugs off strong PMI - Markets - Business Recorder](https://feedsoft.ai/events/28077-china-s-yuan-eases-ahead-of-us-election-shrugs-off-strong-pmi-markets-business.md) | +0.8% | +1.7% |
| USDCNY | 2023-03-29 | [China’s yuan eases, market awaits March PMIs for clues on economic recovery - Markets - Business Recorder](https://feedsoft.ai/events/37087-china-s-yuan-eases-market-awaits-march-pmis-for-clues-on-economic-recovery.md) | +0.1% | +0.9% |
| USDCNY | 2021-10-18 | [Yuan slips after China's Q3 GDP slower than expected - Markets - Business Recorder](https://feedsoft.ai/events/7479-yuan-slips-after-china-s-q3-gdp-slower-than-expected-markets-business-recorder.md) | -0.8% | -0.8% |
| USDCNY | 2022-06-08 | [China’s yuan eases amid concerns of increasing policy divergence - Markets - Business Recorder](https://feedsoft.ai/events/41173-china-s-yuan-eases-amid-concerns-of-increasing-policy-divergence-markets.md) | +1.1% | +0.5% |
| USDCNY | 2021-01-11 | [China's yuan eases to 1-week low to reflect dollar rebound - Markets - Business Recorder](https://feedsoft.ai/events/49365-china-s-yuan-eases-to-1-week-low-to-reflect-dollar-rebound-markets-business.md) | +0.1% | -0.6% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40286620

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