# 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.

- Date: 2022-10-25 · published 2022-10-25T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/6935-breakingviews-xi-jinping-s-third-term-gets-markets-thumbs-down
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## 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.

## Read by commodity

- USDCNY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2024-01-19 | [China’s yuan set to weaken for a third week against rebounding dollar - Markets - Business Recorder](https://feedsoft.ai/events/32358-china-s-yuan-set-to-weaken-for-a-third-week-against-rebounding-dollar-markets.md) | -0.4% | -0.0% |
| USDCNY | 2018-07-19 | [Breakingviews - China's commitment to stable yuan looks unstable](https://feedsoft.ai/events/64271-breakingviews-china-s-commitment-to-stable-yuan-looks-unstable.md) | +0.7% | +3.2% |
| USDCNY | 2022-10-25 | [China’s yuan tumbles amid fears about Xi’s third term \| CNN Business](https://feedsoft.ai/events/39357-china-s-yuan-tumbles-amid-fears-about-xi-s-third-term-cnn-business.md) | +0.6% | -1.7% |
| USDCNY | 2026-06-28 | [Yuan resumes downward trend - Markets - Business Recorder](https://feedsoft.ai/events/19036-yuan-resumes-downward-trend-markets-business-recorder.md) | -0.0% | -0.5% |
| USDCNY | 2023-12-11 | [Yuan and equity markets fall on Moody’s Ratings downgrade](https://feedsoft.ai/events/6457-yuan-and-equity-markets-fall-on-moody-s-ratings-downgrade.md) | -0.7% | +0.0% |

## Sources

- reuters.com: https://www.reuters.com/breakingviews/xi-jinpings-third-term-gets-markets-thumbs-down-2022-10-24/

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