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Foreign currency deposits in Chinese banks rose above $1 trillion for the first time in April, driven by strong export receipts and investment inflows. Banks are reportedly struggling to lend out the dollars, which traders see as a risk.
Large dollar liquidity and a strong export-driven currency affect China's import purchasing power and currency policy, but the report has no immediate effect on feed commodity prices.
reuters.comTom WestbrookJun 2, 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.
