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Chinese depository institutions increased their foreign currency holdings to 5.39 trillion yuan in October, up 383 billion yuan so far in 2017. Official reserves stand at $3.1 trillion, and the article links the bank buying to preparation for larger currency swings.
Bank positioning signals expected currency volatility but does not directly move feed commodity supply or demand. Its relevance to feed buyers is limited to exchange-rate risk for Chinese importers.
bloomberg.comBloomberg NewsNov 22, 2017After 991 past macro events, Chinese Yuan (CNY per USD) moved a median -0.0% over 5 sessions (49% higher; middle half -0.3% to +0.3%), and -0.1% 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.
