Loading…
The yuan slipped as weak credit demand pushed interbank rates lower and investors awaited a Fed rate hike. The PBOC set the midpoint at 6.7731 per dollar, weaker than the prior fix, and property sector worries also weighed.
China's industrial profits returned to growth in June, up 0.8% year on year.
A weaker yuan against the dollar signals currency-side pressure that can affect import costs for China's feed buyers and the global price competitiveness of US feed exports. The story is mostly about currency and macro conditions rather than a direct grain driver.
brecorder.comReutersJul 27, 2022After 398 past bullish macro events, Chinese Yuan (CNY per USD) moved a median +0.0% over 5 sessions (56% higher; middle half -0.3% to +0.5%), and +0.0% 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.
