◂ Event Timeline

Jan 19, 2024MACROChina

China’s yuan set to weaken for a third week against rebounding dollar - Markets

The yuan was flat on January 19 but was on track for a third consecutive weekly loss against the dollar. Weak Chinese economic data, pared US rate-cut bets, and Red Sea risks supported the greenback.

WHY IT MATTERS

A weakening yuan alongside a stronger dollar raises the dollar cost of Chinese imports and reflects softer Chinese economic momentum, a mild negative for feed demand.

AFFECTSChinese Yuan (CNY per USD)▲

SOURCE
brecorder.comReutersJan 19, 2024

Price reaction & history

Chinese Yuan (CNY per USD)▲bullishSO FAR1d -0.0%5d -0.4%20d -0.0%

After 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.

Jan 11, 2021China's yuan eases to 1-week low to reflect dollar rebound - Markets - Business Recorder+0.1%
Apr 28, 2023China’s yuan rebounds, but looks set for a losing month - Markets - Business Recorder-0.2%
Jun 18, 2026China's yuan weakens to one-week low on strong dollar, Fed hike bets weigh - Markets - Business Recorder+0.6%
Jun 13, 2022China’s yuan slips to 2-week low as dollar jumps on inflation data - Markets - Business Recorder+0.1%
Dec 11, 2023China’s yuan weakens to 3-week low, hurt by deflation signs - Markets - Business Recorder-0.7%

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.

Chinese Yuan (CNY per USD) USDCNY · GP ▸

——— · ·

Loading…