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The yuan weakened past 7 per dollar the week of July 24 on reports that the PBoC would pause monetary easing. The central bank reportedly sees no need for further easing given a stronger second-quarter rebound.
A pause in Chinese easing signals a less aggressive growth stimulus, which reduces expectations for strong industrial and feed demand growth.
fxdailyreport.comDaffa ZakyJul 24, 2020After 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.
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.
