◂ Event Timeline

Nov 16, 2021MACROChina

Chart Of The Day: China's Yuan Nearing 3-Year Highs

The USD/CNY pair moved toward its lowest levels since 2018 after direct talks between Biden and Xi raised hopes of easing trade and diplomatic tensions. Intraday trading formed a bullish hammer candle around 6.38 per dollar.

WHY IT MATTERS

Easing US-China tensions could support Chinese purchases of US farm goods, but the currency move itself is a modest factor for feed prices.

AFFECTSChinese Yuan (CNY per USD)▼

SOURCE
investing.comNov 16, 2021

Price reaction & history

Chinese Yuan (CNY per USD)▼bearishSO FAR1d +0.1%5d +0.0%20d -0.2%

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.

Jul 31, 2026China yuan hits 3-year high despite PBOC signalling discomfort over gains - The Daily Guardian-0.1%
Jan 5, 2017China's Offshore Yuan is Bossing the US Dollar Around Today+0.1%
Dec 26, 2017China's yuan strengthens to more than 3-month high - Chinadaily.com.cn-1.3%
Sep 29, 2020China is attracting global investors' attention, boosting the yuan-0.3%
May 25, 2026China's yuan advances to 3-year high as investors weigh prospects of US-Iran deal - Markets - Business Recorder-0.4%

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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