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Analysts attribute the won's rapid October gains against the dollar to expectations of a US stimulus package of up to $2.2 trillion and the strength of the Chinese yuan after China's economic recovery. The won has gained 24 won in October alone, roughly triple the average daily pace of September.
Currency-driven strength in the won and yuan can influence Korean and Chinese import purchasing power for feed ingredients, but this is a background macro factor for grain markets.
english.hani.co.krHankyoreh : English EditionNov 1, 2020Not enough comparable past events yet for a historical read.
After 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.
