# What the coronavirus outbreak means for the Chinese yuan - MarketWatch

> The Chinese yuan weakened past the 7-per-dollar level in offshore trading on Thursday as coronavirus worries grew. The level had been described as a line in the sand, and it was breached last August amid the trade war.

- Date: 2020-01-30 · published 2020-01-30T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/55308-what-the-coronavirus-outbreak-means-for-the-chinese-yuan-marketwatch
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A weaker yuan lowers the dollar cost of Chinese imports, but growing virus-driven demand fears point to softer Chinese feed demand for US and Brazilian grains and meal.

## Read by commodity

- USDCNY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2016-06-27 | [How China’s yuan could be the currency whipping boy of Brexit - MarketWatch](https://feedsoft.ai/events/12455-how-china-s-yuan-could-be-the-currency-whipping-boy-of-brexit-marketwatch.md) | +0.6% | +1.0% |
| USDCNY | 2018-06-28 | [China: The yuan breaks out - Westpac - Forex Crunch](https://feedsoft.ai/events/8534-china-the-yuan-breaks-out-westpac-forex-crunch.md) | +0.5% | +2.8% |
| USDCNY | 2019-05-31 | [What happens if the Chinese yuan breaches the 7 to the US dollar](https://feedsoft.ai/events/59276-what-happens-if-the-chinese-yuan-breaches-the-7-to-the-us-dollar.md) | +0.1% | -0.4% |
| USDCNY | 2018-10-31 | [Why the Chinese yuan is falling](https://feedsoft.ai/events/62761-why-the-chinese-yuan-is-falling.md) | -0.7% | -0.4% |
| USDCNY | 2022-11-10 | [China’s yuan touches near one-week low on worsening COVID outbreaks - Markets - Business Recorder](https://feedsoft.ai/events/8203-china-s-yuan-touches-near-one-week-low-on-worsening-covid-outbreaks-markets.md) | -1.2% | -3.9% |

## Sources

- marketwatch.com: https://www.marketwatch.com/story/coronavirus-fears-push-chinas-offshore-yuan-through-once-key-level-of-7-to-the-dollar-2020-01-30

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