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The yuan rose to its highest since August 1 ahead of a Wednesday signing of the phase one trade deal, after the US said China would no longer be labeled a currency manipulator. Analysts attributed the move partly to optimism about China's improving economy.
Currency strength reflecting improved growth and trade optimism supports Chinese demand expectations for US farm commodities.
cnbc.comPatti DommJan 13, 2020After 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.
