◂ Event Timeline

Sep 30, 2019MACROChina

Yuan inches up on better-than-expected PMI data, set for monthly gain

The yuan edged up against the dollar on September 30 after a private survey showed Chinese manufacturing expanding at its fastest pace in 19 months. The PBOC set its midpoint firmer than expected to stabilize the currency ahead of National Day.

WHY IT MATTERS

Stabilizing the yuan and signs of Chinese economic recovery modestly support Chinese feed demand and reduce the pressure for currency-driven weakness in US export prices.

AFFECTSChinese Yuan (CNY per USD)▼

SOURCE
financialpost.comReutersSep 30, 2019

Price reaction & history

Chinese Yuan (CNY per USD)▼bearishSO FAR1d +0.4%5d +0.4%20d -0.8%

After 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.

Jul 31, 2023China’s yuan inches higher after better-than-expected PMI data - Markets - Business Recorder+0.3%
Nov 6, 2019China sets yuan midpoint at three-month high | Financial Post+0.2%
Jan 28, 2021China's yuan inches up as tight liquidity pushes interbank rates higher | Financial Post-0.3%
Feb 20, 2024Korean Won, Chinese Yuan Set to Gain as US Interest Rates Expected to Drop+0.1%
Nov 23, 2021China's yuan firms on year-end demand, analysts expect weakness in 2022 | Financial Post-0.3%

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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