# USDCNY In Selloff Mode As RMB Fixing Changed - ActionForex

> The PBOC changed the daily fixing process for the renminbi, sending USDCNY to its lowest level since early 2017. Commentators say the move stabilizes the currency but relies on government control rather than market forces. The article links the change to the weaker US dollar.

- Date: 2017-05-31 · published 2017-05-31T12:00:00.000Z
- Category: policy · region China · magnitude low
- Page: https://feedsoft.ai/events/5665-usdcny-in-selloff-mode-as-rmb-fixing-changed-actionforex
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A firmer yuan can raise Chinese import purchasing power, but the effect on feed commodity prices is indirect and small.

## Read by commodity

- USDCNY: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| USDCNY | 2017-05-31 | 1 | -0.6% | -6.1 | The changed fixing process sent USDCNY to its lowest level since early 2017 on the same date, so it directly pushed the pair down. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2017-06-28 | [MARKET BUZZ: USD/CNY Extends Fall To 2-Week Lows; Lower Fixing, Intervention Cited - Nikkei Asia](https://feedsoft.ai/events/11180-market-buzz-usd-cny-extends-fall-to-2-week-lows-lower-fixing-intervention-cited.md) | -0.2% | -0.8% |
| USDCNY | 2017-06-22 | [USD/CNY: Twist the yuan fixing to deter speculative outflow - ING — Octa](https://feedsoft.ai/events/70729-usd-cny-twist-the-yuan-fixing-to-deter-speculative-outflow-ing-octa.md) | -0.4% | -1.0% |
| USDCNY | 2022-09-07 | [China Sets Yuan CNY USD Fix at 6.916 Per Dollar, Strongest Bias on Record - Bloomberg](https://feedsoft.ai/events/12269-china-sets-yuan-cny-usd-fix-at-6-916-per-dollar-strongest-bias-on-record.md) | -0.4% | +2.3% |
| USDCNY | 2019-08-05 | [U.S. designates China as currency manipulator for first time in decades](https://feedsoft.ai/events/57796-u-s-designates-china-as-currency-manipulator-for-first-time-in-decades.md) | +1.8% | +3.1% |
| USDCNY | 2021-10-19 | [Are China’s problems finally catching up? USD/CNH](https://feedsoft.ai/events/7486-are-china-s-problems-finally-catching-up-usd-cnh.md) | -0.7% | -0.6% |

## Sources

- actionforex.com: https://www.actionforex.com/contributors/fundamental-analysis/18028-usdcny-in-selloff-mode-as-rmb-fixing-changed/

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