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Moody's placed China's credit rating on a downgrade warning, citing the costs of bailing out local governments and state firms and efforts to control the property crisis. The agency said these pressures would weigh on the economy.
A weaker growth outlook for the world's second-largest economy suggests slower demand for feed grains and meal, and the rating pressure adds to yuan weakness.
reuters.comDec 5, 2023After 169 past neutral macro events, Chinese Yuan (CNY per USD) moved a median +0.0% over 5 sessions (50% higher; middle half -0.3% to +0.2%), 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.
