# China’s yuan inches higher after better-than-expected PMI data - Markets - Business Recorder

> The yuan inched higher against the dollar on July 31 after China's July manufacturing PMI showed a slower contraction, though activity fell for a fourth straight month. The PBOC set a firmer-than-expected midpoint of 7.1305 per dollar.

- Date: 2023-07-31 · published 2023-07-31T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/35259-china-s-yuan-inches-higher-after-better-than-expected-pmi-data-markets-business
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A firmer yuan and weak manufacturing reflect soft Chinese demand conditions and policy support, with limited direct impact on feed commodity prices.

## Read by commodity

- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2021-07-15 | [China's yuan inches higher, GDP data caps gains - Markets - Business Recorder](https://feedsoft.ai/events/46289-china-s-yuan-inches-higher-gdp-data-caps-gains-markets-business-recorder.md) | -0.0% | +0.1% |
| USDCNY | 2022-06-16 | [China’s yuan climbs to week high after expected Fed move - Markets - Business Recorder](https://feedsoft.ai/events/41169-china-s-yuan-climbs-to-week-high-after-expected-fed-move-markets-business.md) | -0.2% | +0.7% |
| USDCNY | 2022-07-28 | [China’s yuan touches two-week high after Fed appears less hawkish than expected - Markets - Business Recorder](https://feedsoft.ai/events/40701-china-s-yuan-touches-two-week-high-after-fed-appears-less-hawkish-than-expected.md) | -0.0% | +1.5% |
| USDCNY | 2024-02-06 | [China’s yuan rises on firmer-than-expected fix, stock market support - Markets - Business Recorder](https://feedsoft.ai/events/31899-china-s-yuan-rises-on-firmer-than-expected-fix-stock-market-support-markets.md) | -0.1% | -0.0% |
| USDCNY | 2024-10-10 | [China’s yuan inches higher as PBOC support offsets dollar strength - Markets - Business Recorder](https://feedsoft.ai/events/11040-china-s-yuan-inches-higher-as-pboc-support-offsets-dollar-strength-markets.md) | +0.6% | +0.8% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40255414

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