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The yuan's central parity rate hit 6.2822 per dollar, the strongest since August 2015, as the dollar weakened. China's foreign exchange reserves rose for a 12th straight month to $3.16 trillion at the end of January.
A firmer yuan against a softer dollar signals stronger Chinese purchasing power, a mild supportive factor for dollar-denominated commodity imports.
chinadaily.com.cn宋静丽Feb 8, 2018After 362 past bearish macro events, Chinese Yuan (CNY per USD) moved a median -0.1% over 5 sessions (42% higher; middle half -0.4% to +0.1%), and -0.2% over 20.
After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% 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.
