# Markets still bewildered after China central bank explains yuan 'X'-factor - The Business Times

> Traders and analysts say they remain puzzled by the counter-cyclical factor the People's Bank of China added to its yuan midpoint formula in late May. The PBOC said in its quarterly monetary policy report that the change makes the regime more transparent and rule-based.

- Date: 2017-08-17 · published 2017-08-17T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/69677-markets-still-bewildered-after-china-central-bank-explains-yuan-x-factor-the
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Harder-to-forecast yuan midpoints add currency risk for Chinese importers of feed ingredients, which can delay purchasing and add volatility to dollar-priced feed commodity trades.

## Read by commodity

- USDCNY: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2017-07-04 | [China's yuan gains, but market wary of Beijing's currency policy - The Business Times](https://feedsoft.ai/events/70196-china-s-yuan-gains-but-market-wary-of-beijing-s-currency-policy-the-business.md) | +0.0% | -1.2% |
| USDCNY | 2026-04-28 | [China's yuan steady as traders await Fed meet - Markets - Business Recorder](https://feedsoft.ai/events/19949-china-s-yuan-steady-as-traders-await-fed-meet-markets-business-recorder.md) | +0.1% | -0.5% |
| USDCNY | 2023-09-22 | [China’s yuan bounces on state bank support, offshore tightness - Markets - Business Recorder](https://feedsoft.ai/events/34329-china-s-yuan-bounces-on-state-bank-support-offshore-tightness-markets-business.md) | -0.1% | +0.1% |
| USDCNY | 2023-02-01 | [China’s yuan steadies ahead of Fed decision - Markets - Business Recorder](https://feedsoft.ai/events/37554-china-s-yuan-steadies-ahead-of-fed-decision-markets-business-recorder.md) | +0.5% | +1.7% |
| USDCNY | 2021-10-22 | [China's yuan eases after regulator warn of possible actions to counter higher fluctuations - Markets - Business Recorder](https://feedsoft.ai/events/44778-china-s-yuan-eases-after-regulator-warn-of-possible-actions-to-counter-higher.md) | -0.0% | -0.1% |

## Sources

- businesstimes.com.sg: https://www.businesstimes.com.sg/companies-markets/banking-finance/markets-still-bewildered-after-china-central-bank-explains-yuan-x

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