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The dollar held near a one-week low on August 16 after weak US consumer confidence reduced bets on an early Fed tightening. Disappointing Chinese economic data weakened the yuan and the Australian dollar.
Weaker Chinese data points to softer Chinese demand for imported commodities, which is bearish for prices. A weaker yuan can also reduce China's purchasing power for imports.
reuters.comKevin BucklandAug 16, 2021After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.
Not enough comparable past events yet for a historical read.
After 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.
