Loading…
The yuan rose above 7 per US dollar for the first time since August, reaching its highest level since August 5. Traders expected a limited US-China trade agreement to be signed later in the month.
Yuan strength tied to trade-deal hopes signals possible renewed Chinese buying of US soybeans and other farm products. The direct price impact on feed commodities is modest.
cnbc.comSam MeredithNov 5, 2019After 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.
