# China's Yuan Toppled From Two-Year High as Trade Data Surprises - Bloomberg

> The yuan fell as much as 1.2 percent in Shanghai to 6.3550 per dollar, its biggest drop since the 2015 devaluation. The decline followed data showing China's trade surplus more than halved last month and speculation that outflow controls would be eased.

- Date: 2018-02-08 · published 2018-02-08T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/7104-china-s-yuan-toppled-from-two-year-high-as-trade-data-surprises-bloomberg
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

A weaker yuan and smaller trade surplus shift import demand and currency sentiment, which can modestly pressure dollar-priced soybean and feed imports.

## Read by commodity

- SOY: neutral
- USDCNY: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| USDCNY | 2018-02-08 | 1 | +0.9% | 4.5 | The yuan dropped as much as 1.2% intraday, its biggest fall since the 2015 devaluation, after trade surplus data and speculation of eased outflow controls, which matches the 0.91% CNY/USD move in size and timing. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2016-11-16 | [China’s Yuan Tumbles to Eight-Year Low as Banks Weaken Forecasts - Bloomberg](https://feedsoft.ai/events/7741-china-s-yuan-tumbles-to-eight-year-low-as-banks-weaken-forecasts-bloomberg.md) | +0.5% | +0.7% |
| USDCNY | 2017-01-05 | [China Can't Hide Yuan's Dangerous Dollar Dependency - Bloomberg](https://feedsoft.ai/events/73187-china-can-t-hide-yuan-s-dangerous-dollar-dependency-bloomberg.md) | +0.1% | -1.0% |
| USDCNY | 2022-08-19 | [China Yuan Slumps to Near-Two-Year Low Against USD as Rate Differential Widens - Bloomberg](https://feedsoft.ai/events/40262-china-yuan-slumps-to-near-two-year-low-against-usd-as-rate-differential-widens.md) | +0.9% | +2.9% |
| USDCNY | 2021-06-17 | [China’s PBOC Braces for Weaker Yuan as Fed Plans Tapering - Bloomberg](https://feedsoft.ai/events/7116-china-s-pboc-braces-for-weaker-yuan-as-fed-plans-tapering-bloomberg.md) | +1.2% | +1.0% |
| USDCNY | 2016-06-27 | [China Weakens Yuan Fixing by Most Since August as Dollar Surges - Bloomberg](https://feedsoft.ai/events/12454-china-weakens-yuan-fixing-by-most-since-august-as-dollar-surges-bloomberg.md) | +0.6% | +1.0% |
| SOY | 2018-08-27 | [China yuan counter-cyclical factor: currency tweak is trade war dovish](https://feedsoft.ai/events/63741-china-yuan-counter-cyclical-factor-currency-tweak-is-trade-war-dovish.md) | -1.1% | -0.1% |
| SOY | 2019-10-16 | [China Unshackles Daily Yuan Fixing, Suggesting Flexibility Ahead - Caixin Global](https://feedsoft.ai/events/56817-china-unshackles-daily-yuan-fixing-suggesting-flexibility-ahead-caixin-global.md) | +0.0% | -3.0% |
| SOY | 2019-08-26 | [China lets yuan sink, Trump says serious talks to start \| AP News](https://feedsoft.ai/events/57793-china-lets-yuan-sink-trump-says-serious-talks-to-start-ap-news.md) | +1.6% | +5.8% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2018-02-08/china-s-yuan-plunges-most-since-aftermath-of-devaluation-in-2015

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