# China’s yuan eases, market awaits March PMIs for clues on economic recovery - Markets - Business Recorder

> The yuan eased against the dollar as the PBOC set its midpoint at a near two-week low and corporate dollar demand rose. Negative swap points and rising US Treasury yields added pressure, while markets awaited March manufacturing PMI data.

- Date: 2023-03-29 · published 2023-03-29T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/37087-china-s-yuan-eases-market-awaits-march-pmis-for-clues-on-economic-recovery
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A weaker yuan can make Chinese buyers pricier for dollar-priced soybeans, corn and meal, which may slow import demand at the margin. The effect on feed prices is small and short-term.

## Read by commodity

- USDCNY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2024-10-31 | [China’s yuan eases ahead of US election, shrugs off strong PMI - Markets - Business Recorder](https://feedsoft.ai/events/28077-china-s-yuan-eases-ahead-of-us-election-shrugs-off-strong-pmi-markets-business.md) | +0.8% | +1.7% |
| USDCNY | 2024-01-31 | [China’s yuan eases after PMI, dragged by falling bond yields - Markets - Business Recorder](https://feedsoft.ai/events/32348-china-s-yuan-eases-after-pmi-dragged-by-falling-bond-yields-markets-business.md) | +0.2% | +0.3% |
| USDCNY | 2022-06-08 | [China’s yuan eases amid concerns of increasing policy divergence - Markets - Business Recorder](https://feedsoft.ai/events/41173-china-s-yuan-eases-amid-concerns-of-increasing-policy-divergence-markets.md) | +1.1% | +0.5% |
| USDCNY | 2023-04-28 | [China’s yuan rebounds, but looks set for a losing month - Markets - Business Recorder](https://feedsoft.ai/events/36604-china-s-yuan-rebounds-but-looks-set-for-a-losing-month-markets-business-recorder.md) | -0.2% | +2.2% |
| USDCNY | 2024-10-21 | [China’s yuan steady after LPR cuts, eyes on US election - Markets - Business Recorder](https://feedsoft.ai/events/28080-china-s-yuan-steady-after-lpr-cuts-eyes-on-us-election-markets-business-recorder.md) | +0.3% | +1.9% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40234136

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