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Reuters reports that many traders still expect the yuan to weaken against the dollar over the next year, despite three months of gains. A Reuters poll forecast 6.85 per dollar in six months and 6.9 in a year, with the yuan settling at 6.6715 on August 14.
Expectations of yuan weakness into the fall party congress imply firmer dollar costs for Chinese feed importers, a mild bullish factor for the dollar that can weigh on dollar-priced feed commodities.
zeebiz.comReutersAug 15, 2017After 398 past bullish macro events, Chinese Yuan (CNY per USD) moved a median +0.0% over 5 sessions (56% higher; middle half -0.3% to +0.5%), and +0.0% 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.
