Markets swing on trade and monetary policy

After 398 past bullish macro events, Chinese Yuan (CNY per USD) moved a median +0.0% over 5 sessions (56% higher; middle half -0.3% to +0.5%), and +0.0% over 20.

• Dec 11, 2023Yuan and equity markets fall on Moody’s Ratings downgrade-0.7%
• May 3, 2022China | RMB exchange rate sharp depreciation amid diverging monetary policy | BBVA Research+1.8%
• Jun 8, 2022China’s yuan eases amid concerns of increasing policy divergence - Markets - Business Recorder+1.1%
• May 14, 2025China’s yuan falls from six-month peak on rising dollar demand - Markets - Business Recorder+0.2%
• May 23, 2019Trade tensions are starting to pull foreign-exchange markets into the arena | INTERNATIONAL MARKET NEWS - Business Standard-0.1%

After 359 past neutral macro events, US Dollar (Broad) moved a median -0.0% over 5 sessions (49% higher; middle half -0.4% to +0.4%), and -0.1% over 20.

• Nov 21, 2019Account of the monetary policy meeting+0.3%
• May 10, 2024The Fed - Monetary Policy and Exchange Rates during the Global Tightening-0.8%
• Apr 22, 2021Euro and U.S. dollar waffle as markets weigh ECB policy talk-0.3%
• Feb 28, 2020Richard H Clarida: US economic outlook and monetary policy-0.5%
• Feb 29, 2024BOJ policymaker calls for overhaul of ultra-loose monetary policy-0.5%