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Most Asian currencies held steady on August 1 while the yuan was choppy after media reports that Washington plans to raise tariffs on $200 billion of Chinese goods to 25%. The dollar index traded at 94.649 ahead of the Fed meeting.
Proposed escalation of US-China tariffs threatens soybean and feed grain trade flows and reduces Chinese demand, while the dollar index sets the broader commodity price backdrop.
reuters.comAug 1, 2018After 803 past bearish trade events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.7%), and +0.9% over 20.
After 683 past bearish trade events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and +0.3% over 20.
After 22 past bearish trade events, Chinese Yuan (CNY per USD) moved a median -0.1% over 5 sessions (41% higher; middle half -0.7% to +0.3%), and -0.3% over 20.
After 13 past neutral trade events, US Dollar (Broad) moved a median -0.3% over 5 sessions (31% higher; middle half -0.7% to +0.1%), and -0.6% 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.
