# Yuan's Forecasters Getting It Wrong as China Jolts Markets - Bloomberg

> Bloomberg reports that China's yuan policy surprised forecasters, with the onshore rate posting its steepest gain in more than four months over the last four days. The move pushed the currency beyond levels predicted by even the most optimistic analysts.

- Date: 2017-06-01 · published 2017-06-01T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/70728-yuan-s-forecasters-getting-it-wrong-as-china-jolts-markets-bloomberg
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Sharp currency moves change the dollar cost of Chinese imports and the competitiveness of Chinese buyers of US feed commodities. The surprise adds volatility to the outlook for yuan-denominated demand.

## Read by commodity

- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2019-08-06 | [Forex markets: Chinese yuan in focus](https://feedsoft.ai/events/5369-forex-markets-chinese-yuan-in-focus.md) | +0.1% | +1.9% |
| USDCNY | 2020-09-01 | [Yuan’s Jump to One-Year High Tests China’s Tolerance for Gains - Bloomberg](https://feedsoft.ai/events/51313-yuan-s-jump-to-one-year-high-tests-china-s-tolerance-for-gains-bloomberg.md) | -0.1% | -0.5% |
| USDCNY | 2021-12-08 | [China's Yuan Highest Since 2018 as Easing Covid Worry Fuels Risk-On - Bloomberg](https://feedsoft.ai/events/11294-china-s-yuan-highest-since-2018-as-easing-covid-worry-fuels-risk-on-bloomberg.md) | +0.0% | +0.3% |
| USDCNY | 2017-01-05 | [China’s Epic Short Squeeze Is Back as Yuan Rally Burns Bears - Bloomberg](https://feedsoft.ai/events/10251-china-s-epic-short-squeeze-is-back-as-yuan-rally-burns-bears-bloomberg.md) | +0.1% | -1.0% |
| USDCNY | 2024-03-28 | [China sets yuan at much stronger fixing than markets expected](https://feedsoft.ai/events/31439-china-sets-yuan-at-much-stronger-fixing-than-markets-expected.md) | +0.1% | +0.3% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2017-06-01/yuan-forecasters-keep-getting-it-wrong-as-china-jolts-markets

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