◂ Event Timeline

Dec 31, 2019MACROChina

China adjusts CFETS index basket, cutting dollar weighting

China adjusted the composition of its CFETS currency index basket, reducing the weighting given to the US dollar. The text provided is limited to the headline and the site navigation, so no further detail is available.

WHY IT MATTERS

A lower dollar weight in the yuan basket can ease the managed yuan's link to the dollar, which may influence USD/CNY and sentiment toward Chinese import demand for feed commodities. The effect on prices is likely small.

AFFECTSChinese Yuan (CNY per USD)◆

SOURCE
reuters.comDec 31, 2019

Price reaction & history

Chinese Yuan (CNY per USD)◆neutralSO FAR1d -0.4%5d -0.6%20d -1.0%

After 169 past neutral macro events, Chinese Yuan (CNY per USD) moved a median +0.0% over 5 sessions (50% higher; middle half -0.3% to +0.2%), and -0.0% over 20.

Aug 18, 2023Dollar set for fifth straight week of gains as China stays top of mind | Reuters-0.2%
Apr 29, 2025China ramps up global yuan push, seizing on retreating dollar | Reuters-0.3%
Oct 30, 2018Major Chinese banks seen swapping yuan for dollars in forwards: traders | Reuters-0.5%
Jul 28, 2021Havens favoured as China jitters persist; dollar waits for Fed - Markets - Business Recorder-0.6%
May 22, 2023Dollar gains against yen as Fed policy and debt ceiling in focus - Reuters+0.8%

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.

Chinese Yuan (CNY per USD) USDCNY · GP ▸

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