Loading…
Strategists expected the People's Bank of China to support the yuan around President Trump's November 8-10 visit to Beijing. The currency has risen more than 5 percent against the dollar in 2017 after falling about 6.5 percent in 2016.
A firmer yuan around the summit would make dollar-priced US farm imports slightly more expensive for China, though the effect on feed prices is marginal. The trade imbalance and purchase deals were expected to be central to the talks.
cnbc.comReutersNov 2, 2017After 362 past bearish macro events, Chinese Yuan (CNY per USD) moved a median -0.1% over 5 sessions (42% higher; middle half -0.4% to +0.1%), 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.
