◂ Event Timeline

Feb 16, 2023MACROChina

China's yuan rises but strong U.S. retail sales data caps upside

China's yuan firmed from a one-month low on Thursday but stayed in a narrow range after stronger-than-expected US retail sales lifted the dollar. The report, which showed a 3% January rise, reduced expectations of a Federal Reserve pivot.

WHY IT MATTERS

Strong US data keeps the dollar firm and limits yuan gains, leaving Chinese import costs for dollar-priced feed ingredients little changed.

AFFECTSChinese Yuan (CNY per USD)◆

SOURCE
financialpost.comFeb 16, 2023

Price reaction & history

Chinese Yuan (CNY per USD)◆neutralSO FAR1d +0.1%5d +0.8%20d +0.7%

After 169 past neutral macro events, Chinese Yuan (CNY per USD) moved a median +0.0% over 5 sessions (50% higher; middle half -0.3% to +0.2%), and -0.0% over 20.

Nov 9, 2021China's yuan eases as traders await inflation data; HK dollar nears 7.8 | Financial Post+0.0%
Oct 30, 2020As China's yuan becomes a Biden election play, PBOC pushes back | Financial Post-1.7%
Jun 14, 2022China's yuan recovers from 1-month low, Fed, PBOC in focus | Financial Post-1.0%
Nov 15, 2022China keeps key lending rate unchanged as policymakers balance yuan, economic risks | Financial Post+1.3%
Oct 21, 2020China lifts yuan midpoint to 27-month high | Financial Post+0.4%

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.

Chinese Yuan (CNY per USD) USDCNY · GP ▸

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