◂ Event Timeline

Nov 24, 2021MACROAsia

Asian FX resist dollar strength, Thai stocks hit over 2-year high

Asian currencies held up against a stronger dollar on November 24, 2021, with the yuan, peso, Taiwan dollar and won gaining slightly. Thai stocks reached their highest since September 2019 while the baht fell 0.6%.

WHY IT MATTERS

Regional currency resilience and a firm yuan support Asian import demand for grains and oilseeds. The effect on prices is limited.

AFFECTSChinese Yuan (CNY per USD)▼Thai Baht (THB per USD)▲

SOURCE
financialpost.comReutersNov 24, 2021

Price reaction & history

Chinese Yuan (CNY per USD)▼bearishSO FAR1d +0.0%5d -0.4%20d -0.3%

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 28, 2022Yuan near 4-year high despite state bank dollar buying | Financial Post+0.0%
Nov 6, 2019China sets yuan midpoint at three-month high | Financial Post+0.2%
Aug 10, 2017China’s yuan strengthens to 10-month high against US dollar+0.3%
Oct 1, 2024Malaysian ringgit hits more than 3-year high on China stimulus, leads Asian FX rally-0.0%
Apr 22, 2021China's yuan nears six-week high as U.S. yields ease | Financial Post-0.2%

Thai Baht (THB per USD)▲bullish

Not enough comparable past events yet for a historical read.

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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Thai Baht (THB per USD) USDTHB · GP ▸

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