Loading…
Reuters reported that China plans to name finance veteran Zhu as its new forex chief, citing sources. The yuan has lost nearly 3.5% against the dollar this year but firmed about 2% in the past week.
Capital outflows from China reached $75 billion in September, the largest monthly figure since 2016.
A leadership change at the foreign exchange regulator may shape future yuan management and capital flow policy. This affects China's import purchasing power, but the direct effect on feed commodity prices is small.
reuters.comNov 22, 2023After 991 past macro events, Chinese Yuan (CNY per USD) moved a median -0.0% over 5 sessions (49% higher; middle half -0.3% to +0.3%), and -0.1% 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.
