# USD/CNY: Sharp appreciation or depreciation unlikely in 2019? - ING - Forex Crunch

> ING economist Iris Pang argues the yuan will stay in a narrow range, ruling out both a sharp appreciation and a sharp depreciation in 2019. She says the shift from appreciation to slight depreciation is a political signal to the Trump administration. A large move in either direction is considered unlikely.

- Date: 2019-04-29 · published 2019-04-29T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/59805-usd-cny-sharp-appreciation-or-depreciation-unlikely-in-2019-ing-forex-crunch
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A range-bound yuan limits currency-driven swings in Chinese import costs for feed ingredients. Price risk from the exchange rate stays low.

## Read by commodity

- USDCNY: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2023-02-28 | [USD/CNY: Yuan could see a modest appreciation in the coming quarters – Commerzbank — Octa](https://feedsoft.ai/events/37553-usd-cny-yuan-could-see-a-modest-appreciation-in-the-coming-quarters-commerzbank.md) | -0.2% | -0.9% |
| USDCNY | 2024-08-23 | [CNY at a glance: Is the worst of China’s depreciation pressure over? \| ING THINK](https://feedsoft.ai/events/29028-cny-at-a-glance-is-the-worst-of-china-s-depreciation-pressure-over-ing-think.md) | -0.7% | -1.3% |
| USDCNY | 2019-05-15 | [CNY: Calm even with disappointing economic data - ING - Forex Crunch](https://feedsoft.ai/events/8444-cny-calm-even-with-disappointing-economic-data-ing-forex-crunch.md) | +0.4% | +0.6% |
| USDCNY | 2019-01-18 | [China: Deteriorating data could be problematic for CNY - TDS - Forex Crunch](https://feedsoft.ai/events/61316-china-deteriorating-data-could-be-problematic-for-cny-tds-forex-crunch.md) | -0.4% | -0.1% |
| USDCNY | 2021-04-01 | [China: Revising our USD/CNY forecast](https://feedsoft.ai/events/47813-china-revising-our-usd-cny-forecast.md) | -0.2% | -1.1% |

## Sources

- forexcrunch.com: https://www.forexcrunch.com/blog/2019/04/29/usd-cny-sharp-appreciation-or-depreciation-unlikely-in-2019-ing/

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