# Yuan inches up on better-than-expected PMI data, set for monthly gain | Financial Post

> 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.

- Date: 2019-09-30 · published 2019-09-30T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/57290-yuan-inches-up-on-better-than-expected-pmi-data-set-for-monthly-gain-financial
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## 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.

## Read by commodity

- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2023-07-31 | [China’s yuan inches higher after better-than-expected PMI data - Markets - Business Recorder](https://feedsoft.ai/events/35259-china-s-yuan-inches-higher-after-better-than-expected-pmi-data-markets-business.md) | +0.3% | +2.0% |
| USDCNY | 2019-11-06 | [China sets yuan midpoint at three-month high \| Financial Post](https://feedsoft.ai/events/56292-china-sets-yuan-midpoint-at-three-month-high-financial-post.md) | +0.2% | +0.5% |
| USDCNY | 2021-01-28 | [China's yuan inches up as tight liquidity pushes interbank rates higher \| Financial Post](https://feedsoft.ai/events/49361-china-s-yuan-inches-up-as-tight-liquidity-pushes-interbank-rates-higher.md) | -0.3% | -0.4% |
| USDCNY | 2024-02-20 | [Korean Won, Chinese Yuan Set to Gain as US Interest Rates Expected to Drop](https://feedsoft.ai/events/31906-korean-won-chinese-yuan-set-to-gain-as-us-interest-rates-expected-to-drop.md) | +0.1% | +0.1% |
| USDCNY | 2021-11-23 | [China's yuan firms on year-end demand, analysts expect weakness in 2022 \| Financial Post](https://feedsoft.ai/events/44269-china-s-yuan-firms-on-year-end-demand-analysts-expect-weakness-in-2022.md) | -0.3% | -0.2% |

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/yuan-inches-up-on-better-than-expected-pmi-data-set-for-monthly-gain

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