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The yuan firmed on Dec 9, 2020 after China's factory-gate prices fell at a slower pace in November. The People's Bank of China set a stronger midpoint of 6.5311 per dollar, its strongest since June 2018.
Exports and manufacturing were also growing strongly, though consumer prices unexpectedly declined.
Stronger Chinese economic data and a firmer yuan support import purchasing power for dollar-priced commodities, but the currency move is modest and feed prices are not directly affected.
scceu.orgDec 9, 2020After 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.
