
The yuan fell to a one-month low against the dollar on escalating US-China trade tensions and is on track for its longest monthly losing streak on record. Traders expect a trading range of 6.8 to 6.9 per dollar with a downward bias, as neither side appears willing to compromise.
Continued yuan weakness reduces the purchasing power of Chinese importers for US soybeans and meal, adding to the downward pressure on US feed commodity export demand.
After 398 past bullish macro events, Chinese Yuan (CNY per USD) moved a median +0.0% over 5 sessions (56% higher; middle half -0.3% to +0.5%), and +0.0% over 20.
After 273 past bearish macro events, Soybeans moved a median -0.4% over 5 sessions (44% higher; middle half -2.4% to +1.4%), and -0.5% 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.