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China's services sector contracted sharply in August as a wave of coronavirus infections, including the Delta variant, triggered new lockdowns across the country. The downturn was described as an unexpectedly severe blow to the pandemic recovery.
The article is truncated and offers limited detail beyond this.
Lockdowns reduce consumption and industrial activity, which weakens China's demand for imported feed ingredients and other commodities. The effect on prices depends on how long restrictions last.
wsj.comJonathan ChengAug 31, 2021After 991 past macro events, Chinese Yuan (CNY per USD) moved a median -0.0% over 5 sessions (49% higher; middle half -0.3% to +0.3%), and -0.1% 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.
