◂ Event Timeline

Aug 27, 2018MACROChina

China sets yuan fix stronger than expected, revives 'X' factor By Reuters

The PBOC set its yuan midpoint at 6.8508 per dollar on Aug 27, firmer than expected, after reintroducing a counter-cyclical factor to support the currency. The fix was 127 pips stronger than Reuters' estimate.

WHY IT MATTERS

A firmer yuan eases the cost of dollar-denominated US agricultural imports for China, which can support Chinese feed-grain and soybean purchasing.

AFFECTSChinese Yuan (CNY per USD)▼

SOURCE
investing.comAug 27, 2018

Price reaction & history

Chinese Yuan (CNY per USD)▼bearishSO FAR1d +0.2%5d +0.4%20d +0.8%

After 362 past bearish macro events, Chinese Yuan (CNY per USD) moved a median -0.1% over 5 sessions (42% higher; middle half -0.4% to +0.1%), and -0.2% over 20.

Mar 28, 2024China sets yuan at much stronger fixing than markets expected+0.1%
Nov 13, 2024PBOC pulls China’s yuan off 3-month low with stronger-than-expected fix - Markets - Business Recorder+0.1%
Feb 1, 2026China Sets Yuan Fixing Stronger Than 7 for First Time Since 2023-0.2%
Aug 13, 2019China sets yuan mid-point at fresh 11-yr low, but remains firmer than expectations | Reuters-0.1%
Feb 6, 2024China’s yuan rises on firmer-than-expected fix, stock market support - Markets - Business Recorder-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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