# Forex markets: Chinese yuan in focus

> The yuan strengthened on August 6, 2019, after the People's Bank of China set its daily fix firmer than expected, below the 7 level. The central bank also sold yuan-denominated bills in Hong Kong to curb short selling.

- Date: 2019-08-06 · published 2019-08-06T12:00:00.000Z
- Category: macro · region China · magnitude medium
- Page: https://feedsoft.ai/events/5369-forex-markets-chinese-yuan-in-focus
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

The stabilization eased safe-haven demand and reduced near-term currency-driven pressure on dollar-denominated commodity prices. Trade tensions remain unresolved, so the relief is likely limited.

## Read by commodity

- USDCNY: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| USDCNY | 2019-08-07 | 5 | +2.6% | 3.9 | The firmer-than-expected fix and PBOC bill sales in Hong Kong tempered the depreciation on Aug 6, which shaped the net 5-day move. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2018-08-26 | [Asia markets: Fed comments and yuan in focus](https://feedsoft.ai/events/10044-asia-markets-fed-comments-and-yuan-in-focus.md) | +0.4% | +0.8% |
| USDCNY | 2025-12-30 | [Chinese Yuan Breaks Through 7-Per-Dollar Level In Onshore Market](https://feedsoft.ai/events/21743-chinese-yuan-breaks-through-7-per-dollar-level-in-onshore-market.md) | -0.3% | -0.8% |
| USDCNY | 2018-12-04 | [Chinese Yuan Spikes to 3-Month High As Trade Tensions Ease - Markets Insider](https://feedsoft.ai/events/6923-chinese-yuan-spikes-to-3-month-high-as-trade-tensions-ease-markets-insider.md) | +0.2% | -0.2% |
| USDCNY | 2020-08-27 | [The inexorable rise of the Chinese yuan](https://feedsoft.ai/events/51841-the-inexorable-rise-of-the-chinese-yuan.md) | -0.7% | -0.8% |
| USDCNY | 2018-02-01 | [Happy Chinese Yuan \| snaps \| ING THINK](https://feedsoft.ai/events/66715-happy-chinese-yuan-snaps-ing-think.md) | -0.3% | +1.2% |

## Sources

- cnbc.com: https://www.cnbc.com/2019/08/06/forex-markets-chinese-yuan-in-focus.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.