# CNY has stabilized - Westpac — Octa

> Westpac says the yuan has stabilized because of hopes for a US-China agreement before tariffs on $200 billion of goods rise to 25 percent next January. Westpac notes China has reiterated it will not devalue the yuan to boost exports.

- Date: 2018-09-20 · published 2018-09-20T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/63270-cny-has-stabilized-westpac-octa
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A stable yuan limits the currency-driven drag on Chinese import demand for US feed commodities, so the price impact is modest.

## Read by commodity

- USDCNY: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2017-10-09 | [CNY: Stabilisation versus USD, weaker versus EUR - Danske Bank — Octa](https://feedsoft.ai/events/6414-cny-stabilisation-versus-usd-weaker-versus-eur-danske-bank-octa.md) | -1.0% | -0.3% |
| USDCNY | 2017-12-01 | [CNY fixing: Counter-cyclical factor in play - Westpac — Octa](https://feedsoft.ai/events/67713-cny-fixing-counter-cyclical-factor-in-play-westpac-octa.md) | +0.1% | -1.6% |
| USDCNY | 2019-01-31 | [CNY: Guided by the US-China trade talks - Westpac - Forex Crunch](https://feedsoft.ai/events/61312-cny-guided-by-the-us-china-trade-talks-westpac-forex-crunch.md) | +0.5% | -0.1% |
| USDCNY | 2024-10-07 | [Renminbi on track for stability against USD - Chinadaily.com.cn](https://feedsoft.ai/events/11043-renminbi-on-track-for-stability-against-usd-chinadaily-com-cn.md) | +0.7% | +1.2% |
| USDCNY | 2022-03-01 | [China's renminbi (CNY) will benefit from its safe haven status \| Oxford Economics](https://feedsoft.ai/events/42490-china-s-renminbi-cny-will-benefit-from-its-safe-haven-status-oxford-economics.md) | +0.2% | +1.0% |

## Sources

- octaafrica.net: https://www.octaafrica.net/markets/news/view/614650/

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