China starts to draw the line on the latest yuan drop

After 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.

• Feb 20, 2024Korean Won, Chinese Yuan Set to Gain as US Interest Rates Expected to Drop+0.1%
• Jul 25, 2023China state banks seen selling US dollars to prop up yuan -sources-0.6%
• Aug 26, 2019China lets yuan sink, Trump says serious talks to start | AP News+0.9%
• Aug 31, 2020China lifts yuan midpoint to highest since July 2019 on persistent dollar weakness | The Straits Times-0.3%
• Nov 9, 2018Timeline of China's recent measures to stabilise yuan near key level+0.1%

After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.

• Feb 20, 2024Korean Won, Chinese Yuan Set to Gain as US Interest Rates Expected to Drop-0.1%
• Aug 31, 2020China lifts yuan midpoint to highest since July 2019 on persistent dollar weakness | The Straits Times+0.1%
• Aug 27, 2020The inexorable rise of the Chinese yuan-0.5%
• Jan 5, 2017China's Offshore Yuan is Bossing the US Dollar Around Today+0.1%
• Nov 17, 2020Chinese yuan jumps to strongest and will likely continue - CGTN-0.1%