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China's State Administration of Foreign Exchange said the country's forex market stayed stable in November with balanced supply and demand. Banks recorded net foreign currency sales of $17.9 billion that month.
Net sales for January to November totaled $48.9 billion.
Stable forex conditions reduce the risk of abrupt yuan moves that would disrupt Chinese import purchases of feed ingredients. The data point has little direct effect on feed commodity prices.
news.cgtn.comCGTNDec 21, 2018After 17 past neutral report events, Chinese Yuan (CNY per USD) moved a median -0.0% over 5 sessions (47% higher; middle half -0.2% to +0.4%), and -0.8% 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.
