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The yuan firmed in a tight range on August 29 as investors awaited key Chinese economic data and US inflation and payrolls figures. The PBOC continued setting the daily fixing at stronger-than-expected levels, and the yuan is down over 5% this year.
Currency stability supports Chinese import purchasing power, while the upcoming data could signal demand strength for feed commodities.
brecorder.comReutersAug 29, 2023After 362 past bearish macro events, Chinese Yuan (CNY per USD) moved a median -0.1% over 5 sessions (42% higher; middle half -0.4% to +0.1%), and -0.2% 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.
