◂ Event Timeline

Dec 12, 2018MACROChina

China's currency moves will be the best measure of how well US-China trade talks are going

Strategists say the yuan's firming against the dollar since the Trump-Xi meeting in Buenos Aires is a positive sign for US-China trade talks. The central bank is steadying the currency through its daily fixing and trading band.

A sharp yuan fall would signal weakening commitment to the talks.

WHY IT MATTERS

Yuan stability is read as a gauge of trade-deal progress, so it shapes expectations for US soybean, corn and meal purchases by China. Market sentiment on this link affects agricultural futures.

AFFECTSChinese Yuan (CNY per USD)

SOURCE
cnbc.comPatti DommDec 12, 2018

Price reaction & history

Chinese Yuan (CNY per USD)no directional readSO FAR1d -0.3%5d -0.0%20d -2.0%

After 991 past macro events, Chinese Yuan (CNY per USD) moved a median -0.0% over 5 sessions (49% higher; middle half -0.3% to +0.3%), and -0.1% over 20.

Apr 17, 2018China currency moves hang in the balance in U.S. trade spat | Reuters+0.6%
Sep 26, 2019China sells 10 billion yuan of bills in Hong Kong to protect currency ahead of National Day, US trade war talks | South China Morning Post+0.2%
Jun 27, 2016How China’s yuan could be the currency whipping boy of Brexit - MarketWatch+0.6%
Mar 31, 2021China’s currency set for worst month since US trade war-0.5%
Dec 24, 2018China to keep yuan currency from sliding below 7 to the US dollar as part of trade war deal, analysts said | South China Morning Post-0.7%

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 ▸

——— · ·

Loading…