# China's yuan inches higher, GDP data caps gains - Markets - Business Recorder

> 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.

- Date: 2021-07-15 · published 2021-07-15T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/46289-china-s-yuan-inches-higher-gdp-data-caps-gains-markets-business-recorder
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

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.

## Read by commodity

- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2023-07-31 | [China’s yuan inches higher after better-than-expected PMI data - Markets - Business Recorder](https://feedsoft.ai/events/35259-china-s-yuan-inches-higher-after-better-than-expected-pmi-data-markets-business.md) | +0.3% | +2.0% |
| USDCNY | 2024-10-10 | [China’s yuan inches higher as PBOC support offsets dollar strength - Markets - Business Recorder](https://feedsoft.ai/events/11040-china-s-yuan-inches-higher-as-pboc-support-offsets-dollar-strength-markets.md) | +0.6% | +0.8% |
| USDCNY | 2023-02-02 | [China’s yuan jumps to over 2-week high on Fed’s dovish tilt - Markets - Business Recorder](https://feedsoft.ai/events/37551-china-s-yuan-jumps-to-over-2-week-high-on-fed-s-dovish-tilt-markets-business.md) | +0.7% | +2.5% |
| USDCNY | 2021-08-30 | [China’s yuan touches 3-week high - Business & Finance - Business Recorder](https://feedsoft.ai/events/45782-china-s-yuan-touches-3-week-high-business-and-finance-business-recorder.md) | -0.3% | -0.2% |
| USDCNY | 2026-08-31 | [China's yuan firms despite dollar rebound - Markets - Business Recorder](https://feedsoft.ai/events/18093-china-s-yuan-firms-despite-dollar-rebound-markets-business-recorder.md) | -0.2% | -0.2% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40107374

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.