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China's foreign exchange reserves fell $9 billion in November to $3.096 trillion, more than the roughly $4 billion decline analysts had expected. The central bank attributed recent changes mainly to exchange-rate fluctuations and the value of its foreign bond holdings.
Reserve movements mainly reflect currency and asset valuations rather than trade flows, so the direct effect on feed commodity prices is limited. The yuan's swings with US-China trade talks do feed into import pricing.
cnbc.comReutersDec 7, 2019After 991 past macro events, USDCNY moved a median -0.0% over 5 sessions (49% higher; middle half -0.3% to +0.3%), and -0.1% 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.
