# Onshore Yuan Breaks 6.9 Against U.S. Dollar as Trade War Intensifies - Caixin Global

> The onshore yuan broke the 6.9 per dollar level on May 18 as US-China trade conflict escalated, with dollar inflows rising in the afternoon. The central bank weakened the yuan's central parity rate for a seventh straight session to 6.8859. Analysts expected the central bank to defend the 7 level.

- Date: 2019-05-18 · published 2019-05-18T12:00:00.000Z
- Category: macro · region China · magnitude medium
- Page: https://feedsoft.ai/events/59281-onshore-yuan-breaks-6-9-against-u-s-dollar-as-trade-war-intensifies-caixin
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

A weaker yuan partly offsets US tariffs for Chinese buyers of US goods, but it also reflects deepening trade stress that can reduce purchase appetite for US soybeans and feed grains.

## Read by commodity

- SOY: bearish ▼
- USDCNY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2022-05-31 | [In Depth: Behind the Yuan’s Tumble Against the Dollar - Caixin Global](https://feedsoft.ai/events/41602-in-depth-behind-the-yuan-s-tumble-against-the-dollar-caixin-global.md) | -0.7% | +0.1% |
| USDCNY | 2024-02-20 | [Onshore yuan trades at its weakest against dollar since November last year](https://feedsoft.ai/events/31900-onshore-yuan-trades-at-its-weakest-against-dollar-since-november-last-year.md) | +0.1% | +0.1% |
| USDCNY | 2024-05-23 | [China Allows Yuan to Drop as Outflows, Dollar Test Central Bank’s Grip - Caixin Global](https://feedsoft.ai/events/30490-china-allows-yuan-to-drop-as-outflows-dollar-test-central-bank-s-grip-caixin.md) | +0.1% | +0.3% |
| USDCNY | 2022-12-28 | [China's yuan weakens as U.S. dollar gains on sustained inflation outlook \| Financial Post](https://feedsoft.ai/events/38448-china-s-yuan-weakens-as-u-s-dollar-gains-on-sustained-inflation-outlook.md) | -1.0% | -2.4% |
| USDCNY | 2018-06-27 | [Yuan Sell-Off Gathers Pace On Economy, Trade Fears - Caixin Global](https://feedsoft.ai/events/8530-yuan-sell-off-gathers-pace-on-economy-trade-fears-caixin-global.md) | +0.9% | +2.9% |
| SOY | 2024-05-23 | [China Allows Yuan to Drop as Outflows, Dollar Test Central Bank’s Grip - Caixin Global](https://feedsoft.ai/events/30490-china-allows-yuan-to-drop-as-outflows-dollar-test-central-bank-s-grip-caixin.md) | -2.9% | -6.9% |
| SOY | 2018-11-01 | [Caixin Explains: Why 7 Is the Yuan’s Unlucky Number - Caixin Global](https://feedsoft.ai/events/62270-caixin-explains-why-7-is-the-yuan-s-unlucky-number-caixin-global.md) | +3.4% | +5.8% |
| SOY | 2022-09-29 | [CNY/USD: Why China’s Yuan Hit Record Lows Against the Dollar - Bloomberg](https://feedsoft.ai/events/7207-cny-usd-why-china-s-yuan-hit-record-lows-against-the-dollar-bloomberg.md) | -2.8% | -1.9% |

## Sources

- caixinglobal.com: https://www.caixinglobal.com/2019-05-18/onshore-yuan-breaks-69-against-us-dollar-as-trade-war-intensifies-101417100.html

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