Loading…
China is gradually expanding the use of its yuan in international payments through bilateral deals with partners including Middle East oil suppliers, Brazil and Russia. Analysts see incremental progress toward a parallel trade settlement system, though yuan share of global payments remains about 2.2%.
Yuan settlement of trade could reduce reliance on dollar payments over time, a structural factor for currency and commodity trade flows. The near-term price impact on feed markets is limited.
reuters.comTom WestbrookApr 27, 2023After 359 past neutral macro events, US Dollar (Broad) moved a median -0.0% over 5 sessions (49% higher; middle half -0.4% to +0.4%), 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.
