# 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.

- Date: 2018-08-27 · published 2018-08-27T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/63742-china-sets-yuan-fix-stronger-than-expected-revives-x-factor-by-reuters
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## 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.

## Read by commodity

- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2024-03-28 | [China sets yuan at much stronger fixing than markets expected](https://feedsoft.ai/events/31439-china-sets-yuan-at-much-stronger-fixing-than-markets-expected.md) | +0.1% | +0.3% |
| USDCNY | 2024-11-13 | [PBOC pulls China’s yuan off 3-month low with stronger-than-expected fix - Markets - Business Recorder](https://feedsoft.ai/events/6696-pboc-pulls-china-s-yuan-off-3-month-low-with-stronger-than-expected-fix-markets.md) | +0.1% | +0.4% |
| USDCNY | 2026-02-01 | [China Sets Yuan Fixing Stronger Than 7 for First Time Since 2023](https://feedsoft.ai/events/21278-china-sets-yuan-fixing-stronger-than-7-for-first-time-since-2023.md) | -0.2% | -1.0% |
| USDCNY | 2019-08-13 | [China sets yuan mid-point at fresh 11-yr low, but remains firmer than expectations \| Reuters](https://feedsoft.ai/events/57791-china-sets-yuan-mid-point-at-fresh-11-yr-low-but-remains-firmer-than.md) | -0.1% | +0.8% |
| USDCNY | 2024-02-06 | [China’s yuan rises on firmer-than-expected fix, stock market support - Markets - Business Recorder](https://feedsoft.ai/events/31899-china-s-yuan-rises-on-firmer-than-expected-fix-stock-market-support-markets.md) | -0.1% | -0.0% |

## Sources

- investing.com: https://www.investing.com/news/forex-news/china-sets-yuan-fix-stronger-than-expected-revives-x-factor-1587356

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