# China: Can the new RMB fix, fix the problem? – Deutsche Bank — Octa

> Deutsche Bank analysts say the new RMB fixing formula and PBoC dollar selling drove about 1.44% onshore and 2.27% offshore yuan appreciation. They note the countercyclical factor was meant to offset herd behaviour in the onshore market.

- Date: 2017-06-02 · published 2017-06-02T12:00:00.000Z
- Category: policy · region China · magnitude medium
- Page: https://feedsoft.ai/events/70730-china-can-the-new-rmb-fix-fix-the-problem-deutsche-bank-octa
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A stronger yuan that Beijing is actively managing affects the dollar cost of Chinese feed imports and the pace of buying. The policy-driven nature means the trend could reverse if authorities change course.

## Read by commodity

- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2022-09-06 | [Why China's central bank is shoring up the yuan](https://feedsoft.ai/events/12268-why-china-s-central-bank-is-shoring-up-the-yuan.md) | +0.4% | +3.1% |
| USDCNY | 2019-05-17 | [China's central bank won't let yuan weaken past 7 to the dollar-sources](https://feedsoft.ai/events/59283-china-s-central-bank-won-t-let-yuan-weaken-past-7-to-the-dollar-sources.md) | +0.4% | +0.6% |
| USDCNY | 2021-10-19 | [Are China’s problems finally catching up? USD/CNH](https://feedsoft.ai/events/7486-are-china-s-problems-finally-catching-up-usd-cnh.md) | -0.7% | -0.6% |
| USDCNY | 2022-09-05 | [China c.bank to cut FX reserve ratio to help limit yuan weakness](https://feedsoft.ai/events/12267-china-c-bank-to-cut-fx-reserve-ratio-to-help-limit-yuan-weakness.md) | +0.4% | +3.1% |
| USDCNY | 2022-04-27 | [China economy: Central bank tries to slow weakening yuan vs US dollar](https://feedsoft.ai/events/4947-china-economy-central-bank-tries-to-slow-weakening-yuan-vs-us-dollar.md) | +0.8% | +1.5% |

## Sources

- octaafrica.net: https://www.octaafrica.net/markets/news/view/449264/

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