# CNY fixing: Counter-cyclical factor in play - Westpac — Octa

> Westpac analyst Frances Cheung says onshore yuan bond yields are rising amid deleveraging and inflation expectations. She expects USD/CNY to trade between 6.60 and 6.65, with the counter-cyclical factor keeping the yuan stable.

- Date: 2017-12-01 · published 2017-12-01T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/67713-cny-fixing-counter-cyclical-factor-in-play-westpac-octa
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A stable yuan around 6.60 keeps the cost of dollar-priced feed imports steady for Chinese buyers. The note points to no major shift in currency-driven import demand.

## Read by commodity

- USDCNY: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2018-09-20 | [CNY has stabilized - Westpac — Octa](https://feedsoft.ai/events/63270-cny-has-stabilized-westpac-octa.md) | +0.4% | +1.3% |
| USDCNY | 2023-02-28 | [USD/CNY: Yuan could see a modest appreciation in the coming quarters – Commerzbank — Octa](https://feedsoft.ai/events/37553-usd-cny-yuan-could-see-a-modest-appreciation-in-the-coming-quarters-commerzbank.md) | -0.2% | -0.9% |
| USDCNY | 2018-12-13 | [The Yuan: Key Factors to Watch in 2019 - Caixin Global](https://feedsoft.ai/events/61796-the-yuan-key-factors-to-watch-in-2019-caixin-global.md) | +0.2% | -1.7% |
| USDCNY | 2019-01-31 | [CNY: Guided by the US-China trade talks - Westpac - Forex Crunch](https://feedsoft.ai/events/61312-cny-guided-by-the-us-china-trade-talks-westpac-forex-crunch.md) | +0.5% | -0.1% |
| USDCNY | 2019-03-25 | [China: How opening up the financial sector could affect the yuan \| articles \| ING THINK](https://feedsoft.ai/events/60331-china-how-opening-up-the-financial-sector-could-affect-the-yuan-articles-ing.md) | -0.1% | -0.2% |

## Sources

- octaafrica.net: https://www.octaafrica.net/markets/news/view/517220/

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