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The yuan inched higher against the dollar on July 15 as the dollar softened globally, but gains were capped by China's weaker-than-expected second-quarter GDP growth. The PBOC set a midpoint at a one-week high, and traders awaited clarity on a cut to banks' reserve requirement ratio.
Weaker-than-expected growth and possible monetary easing can affect Chinese feed demand from livestock producers. The currency move itself is small and has little direct effect on grain prices.
brecorder.comReutersJul 15, 2021After 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.
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.
