
The onshore yuan closed at 6.9530 per dollar on August 5, its strongest close since March 11 and fully recovering its 2020 losses. The move followed broad dollar weakness and hopes for a scheduled US-China Phase 1 trade review.
A stronger yuan on trade-review hopes signals improved sentiment for US farm purchases, though the currency move itself is modest for feed prices.
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.
After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), 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.