◂ Event Timeline

Mar 31, 2021MACROChina

Yuan off lows on upbeat PMI data, but set for worst month since Aug 2019 - Markets

China's yuan rebounded from a four-month low against the dollar on Wednesday after a strong official manufacturing survey, but was still on track for its biggest monthly fall since August 2019. The PBOC kept rolling over maturing reverse repos, leaving zero net cash injection for 23 straight sessions.

WHY IT MATTERS

A weaker yuan makes Chinese buyers of dollar-priced commodities less willing to pay up, a mild bearish signal for feed import demand and prices.

AFFECTSUSDCNY▲

SOURCE
brecorder.comReutersMar 31, 2021

Price reaction & history

USDCNY▲bullishSO FAR1d -0.3%5d -0.5%20d -1.3%

After 398 past bullish macro events, USDCNY moved a median +0.0% over 5 sessions (56% higher; middle half -0.3% to +0.5%), and +0.0% over 20.

Sep 23, 2022China’s yuan ends near 28-month low, set for worst week since April - Markets - Business Recorder+0.6%
Apr 28, 2023China’s yuan rebounds, but looks set for a losing month - Markets - Business Recorder-0.2%
Mar 31, 2026Chinese yuan heads for first monthly loss since July - Markets - Business Recorder-0.5%
Aug 31, 2021Yuan slips on signs of China slowdown, set for 3rd month of decline - Markets - Business Recorder+0.0%
Sep 26, 2025China’s yuan touches 3-week low, looks set for biggest weekly drop since July - Markets - Business Recorder-0.2%

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.

USDCNY · GP ▸

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