Loading…
The yuan fell to a 3.5-month low against the dollar as broad dollar strength and tariff worries weighed on the currency. Trump has pledged tariffs of 60% or more on Chinese goods, and the yuan is down 1.5% this month.
Trump's proposed tariffs of 60% or more on Chinese goods threaten US agricultural export demand and a weaker yuan makes US feed imports costlier for China.
brecorder.comReutersNov 12, 2024After 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.
After 273 past bearish macro events, Soybeans moved a median -0.4% over 5 sessions (44% higher; middle half -2.4% to +1.4%), and -0.5% over 20.
After 301 past bearish macro events, Corn moved a median -0.1% over 5 sessions (47% higher; middle half -2.2% to +1.3%), and +0.2% 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.
The yuan hit a 3.5-month low on Nov 12 on dollar strength and 60%+ tariff fears, marking the end point of the move.
