# Encouraging GDP Data, Strong Exports Sustain Chinese Currency’s Bull Run  - Caixin Global

> The yuan maintained its upward momentum at the start of 2022, supported by strong exports and better-than-expected economic growth in the fourth quarter of 2021. The spot rate was near 6.34 per dollar, and the CFETS basket index hit a six-year high of 102.98 on January 7 before easing slightly.

- Date: 2022-01-21 · published 2022-01-21T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/43358-encouraging-gdp-data-strong-exports-sustain-chinese-currency-s-bull-run-caixin
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A firmer yuan lowers the local-currency cost of imported feed grains and meal, supporting Chinese import demand and modestly underpinning US and South American export values.

## Read by commodity

- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2016-12-30 | [Yuan Strengthens after China Announces Plans to Expand Currency Basket - Caixin Global](https://feedsoft.ai/events/73679-yuan-strengthens-after-china-announces-plans-to-expand-currency-basket-caixin.md) | -0.5% | -1.1% |
| USDCNY | 2018-01-26 | [In Global Currency Game, China Is Losing to U.S.](https://feedsoft.ai/events/11863-in-global-currency-game-china-is-losing-to-u-s.md) | -0.3% | +0.2% |
| USDCNY | 2020-02-04 | [China Adds Market Support With More Cash, Strong Yuan Fix - Caixin Global](https://feedsoft.ai/events/5133-china-adds-market-support-with-more-cash-strong-yuan-fix-caixin-global.md) | -0.6% | -0.9% |
| USDCNY | 2020-01-20 | [Dollar holds firm after strong US data, Chinese yuan extends run](https://feedsoft.ai/events/7876-dollar-holds-firm-after-strong-us-data-chinese-yuan-extends-run.md) | +0.8% | +2.0% |
| USDCNY | 2021-11-11 | [Yuan Hits Five-Year High as Exports Surge - Caixin Global](https://feedsoft.ai/events/44270-yuan-hits-five-year-high-as-exports-surge-caixin-global.md) | -0.0% | -0.3% |

## Sources

- caixinglobal.com: https://www.caixinglobal.com/2022-01-21/encouraging-gdp-data-strong-exports-sustain-chinese-currencys-bull-run-101833434.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.