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China is set to announce a further easing of some COVID-19 curbs. The yuan rose to its strongest level against the dollar since mid-September amid a broad market rally.
Investors expect the unwinding of pandemic restrictions to improve the outlook for global growth.
Expected recovery in Chinese economic activity could lift demand for feed grains, meal and meat. A firmer yuan also lowers the dollar cost of Chinese imports.
reuters.comJulie ZhuDec 5, 2022After 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.
