# China: Revising our USD/CNY forecast

> ING revised its USD/CNY forecast, citing exchange rate liberalisation that has made the yuan more volatile since the PBoC faded its counter-cyclical fixing factor in October 2020. The note also discusses interest rate reform prospects for 2021.

- Date: 2021-04-01 · published 2021-04-01T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/47813-china-revising-our-usd-cny-forecast
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Greater yuan volatility and a changing forecast affect the cost of Chinese feed imports priced in dollars, but the note itself does not move commodity prices directly.

## Read by commodity

- USDCNY: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2024-10-07 | [Renminbi on track for stability against USD - Chinadaily.com.cn](https://feedsoft.ai/events/11043-renminbi-on-track-for-stability-against-usd-chinadaily-com-cn.md) | +0.7% | +1.2% |
| USDCNY | 2019-01-31 | [CNY: Guided by the US-China trade talks - Westpac - Forex Crunch](https://feedsoft.ai/events/61312-cny-guided-by-the-us-china-trade-talks-westpac-forex-crunch.md) | +0.5% | -0.1% |
| USDCNY | 2019-04-29 | [USD/CNY: Sharp appreciation or depreciation unlikely in 2019? - ING - Forex Crunch](https://feedsoft.ai/events/59805-usd-cny-sharp-appreciation-or-depreciation-unlikely-in-2019-ing-forex-crunch.md) | +0.1% | +2.5% |
| USDCNY | 2019-01-18 | [China: Deteriorating data could be problematic for CNY - TDS - Forex Crunch](https://feedsoft.ai/events/61316-china-deteriorating-data-could-be-problematic-for-cny-tds-forex-crunch.md) | -0.4% | -0.1% |
| USDCNY | 2018-11-14 | [US-China trade war: Tariffs spur record dollar-yuan currency trading](https://feedsoft.ai/events/62265-us-china-trade-war-tariffs-spur-record-dollar-yuan-currency-trading.md) | -0.1% | -1.1% |

## Sources

- think.ing.com: https://think.ing.com/articles/china-revising-our-usdcny-forecast

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