◂ Event Timeline

Oct 25, 2022MACROChina

Breakingviews: Xi Jinping’s third term gets markets thumbs-down

Offshore yuan fell to 7.279 per dollar in early trade, near record lows, after the PBOC set its midpoint rate at the weakest level since June 2020. Markets reacted negatively to Xi Jinping's third term.

WHY IT MATTERS

Weaker yuan and investor pullback reduce Chinese import purchasing power and dampen sentiment for commodity demand, a mild bearish signal for feed prices.

AFFECTSUSDCNY▲

SOURCE
reuters.comKatrina HamlinOct 25, 2022

Price reaction & history

USDCNY▲bullishSO FAR1d +0.1%5d +0.6%20d -1.7%

After 398 past bullish macro events, USDCNY moved a median +0.0% over 5 sessions (56% higher; middle half -0.3% to +0.5%), and +0.0% over 20.

Jan 19, 2024China’s yuan set to weaken for a third week against rebounding dollar - Markets - Business Recorder-0.4%
Jul 19, 2018Breakingviews - China's commitment to stable yuan looks unstable+0.7%
Oct 25, 2022China’s yuan tumbles amid fears about Xi’s third term | CNN Business+0.6%
Jun 28, 2026Yuan resumes downward trend - Markets - Business Recorder-0.0%
Dec 11, 2023Yuan and equity markets fall on Moody’s Ratings downgrade-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.

USDCNY · GP ▸

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