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A Reuters poll found the yuan is expected to hold its recent gains against the dollar and edge higher over the coming year. Optimism about a US-China trade deal is offsetting worries about slowing Chinese growth.
Wells Fargo expects the end of Fed tightening to weaken the dollar.
A firmer yuan can support Chinese import demand for commodities priced in dollars. The poll points to a stable currency backdrop rather than a shock to feed markets.
reuters.comVivek MishraApr 4, 2019After 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.
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.
