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An analysis argues that aggressive dollar buying by Indian state banks weakened the rupee past 73.5 and to 11 per yuan, a first since 2013, possibly as a strategy to curb Chinese imports and pressure China. The piece also covers the US election's potential impact on the dollar.
Trade-related currency policy and tensions with China could shift Indian import demand for agricultural goods, while a stronger dollar pressures dollar-priced commodities.
marketia.com.ngchristeen rednerOct 25, 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.
