◂ Event Timeline

Jul 30, 2018MACROChina

China's yuan hits 13-month low on weaker fixing and depreciation bets

China's yuan fell to a fresh 13-month low against the dollar on Monday, with the onshore spot rate trading near 6.835 per dollar. The move followed a much weaker central bank fixing and expectations of further depreciation as US-China trade tensions worsened.

WHY IT MATTERS

A weaker yuan makes US farm exports pricier for Chinese buyers, which can weigh on demand for US feed ingredients. It can also cushion Chinese exporters against tariffs.

AFFECTSChinese Yuan (CNY per USD)▲

SOURCE
reuters.comJul 30, 2018

Price reaction & history

Chinese Yuan (CNY per USD)▲bullishSO FAR1d +0.0%5d +0.3%20d -0.1%

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.

Jun 27, 2024China's Yuan Hits Seven-Month Low As Dollar Outflows Persist - Finimize+0.0%
Jun 18, 2026China's yuan weakens to one-week low on strong dollar, Fed hike bets weigh - Markets - Business Recorder+0.6%
Jul 1, 2024China Loosens Grip on Yuan With Weakest Fixing Since November+0.0%
May 1, 2024Yuan falls out of favour with China’s exporters as fears of depreciation mount-0.3%
Dec 11, 2023China’s yuan weakens to 3-week low, hurt by deflation signs - Markets - Business Recorder-0.7%

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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