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China's foreign reserves rose by US$18.23 billion in June to US$3,119.23 billion, the largest monthly gain of 2019. Analysts attribute the rise to a weaker dollar, index inclusion of Chinese assets, and expected passive fund inflows.
Stronger capital inflows support the yuan and Chinese financial conditions, which can modestly support import demand, though the effect on feed commodity prices is indirect.
think.ing.comJul 8, 2019After 362 past bearish macro events, USDCNY 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.
