◂ Event Timeline

Jun 14, 2022MACROChina

China's yuan recovers from 1-month low, Fed, PBOC in focus

China's yuan bounced from a one-month low on June 14 as corporate clients took profits on dollar gains. Spot onshore yuan traded near 6.74 per dollar as the market awaited the Fed decision and PBOC policy loan renewals.

WHY IT MATTERS

Currency swings tied to Fed tightening expectations influence the cost of dollar-denominated feed and oilseed imports for Chinese buyers.

AFFECTSChinese Yuan (CNY per USD)◆

SOURCE
financialpost.comReutersJun 14, 2022

Price reaction & history

Chinese Yuan (CNY per USD)◆neutralSO FAR1d -0.2%5d -1.0%20d -0.5%

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.

Oct 21, 2020China lifts yuan midpoint to 27-month high | Financial Post+0.4%
Oct 30, 2020As China's yuan becomes a Biden election play, PBOC pushes back | Financial Post-1.7%
Feb 16, 2023China's yuan rises but strong U.S. retail sales data caps upside - Financial Post+0.8%
Nov 9, 2021China's yuan eases as traders await inflation data; HK dollar nears 7.8 | Financial Post+0.0%
Jul 31, 2026PBOC Seeks to Temper Yuan Rally With Stable Daily Fix | Financial Post-0.1%

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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