◂ Event Timeline

Mar 26, 2019MACROChina

China's efforts to make Yuan rate more transparent gain momentum

SAFE head Pan Gongsheng backed a more transparent, rule-based yuan reference rate in which the market plays a bigger role in price setting. The remarks followed Governor Yi Gang's comments favoring a flexible rate.

WHY IT MATTERS

A more market-driven yuan could increase currency volatility, which affects the dollar cost of Chinese feed imports.

AFFECTSChinese Yuan (CNY per USD)◆

SOURCE
octaafrica.netMar 26, 2019

Price reaction & history

Chinese Yuan (CNY per USD)◆neutralSO FAR1d +0.1%5d +0.0%20d +0.0%

After 169 past neutral macro events, Chinese Yuan (CNY per USD) moved a median +0.0% over 5 sessions (50% higher; middle half -0.3% to +0.2%), and -0.0% over 20.

Apr 19, 2021Global Reflation Trade Gains New Momentum From China’s Yuan - Bloomberg-0.4%
Apr 6, 2017China’s Efforts to Boost the Yuan-0.0%
Mar 27, 2024Watch China's Confusing Signals on the Yuan - Bloomberg+0.2%
Aug 9, 2018Vietnamese Dong Feels the Ripples of China's Yuan Rout - Bloomberg+1.4%
Jan 3, 2017China Inc.’s Large Dollar Debts Fuel Beijing’s Efforts to Curb Yuan Plunge-0.1%

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.

Chinese Yuan (CNY per USD) USDCNY · GP ▸

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