# China's yuan unlikely to continue rapid depreciation -state media

> The state-owned Securities Times said in a commentary that the yuan is unlikely to continue depreciating rapidly, citing a prudent balance of payments. Losses have been restrained compared with other currencies.

- Date: 2022-09-29 · published 2022-09-29T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/7213-china-s-yuan-unlikely-to-continue-rapid-depreciation-state-media
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Expectations of a slower yuan slide reduce the pressure on Chinese import costs, a mildly supportive factor for China's feed demand, though the story is commentary rather than a policy action.

## Read by commodity

- USDCNY: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| USDCNY | 2022-09-29 | 1 | -1.1% | -4.4 | State media commentary saying rapid depreciation is unlikely to continue was verbal guidance that reinforced a reversal in sentiment and encouraged yuan buying. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2017-08-30 | [Yuan Appreciation: RMB strengthens when US index continues to fall - CGTN](https://feedsoft.ai/events/69676-yuan-appreciation-rmb-strengthens-when-us-index-continues-to-fall-cgtn.md) | -1.1% | +0.7% |
| USDCNY | 2022-11-11 | [China yuan's long-term strengthening trend will not change - state media](https://feedsoft.ai/events/38905-china-yuan-s-long-term-strengthening-trend-will-not-change-state-media.md) | -0.9% | -2.9% |
| USDCNY | 2017-08-31 | [Chinese yuan continues to climb against USD - People's Daily Online](https://feedsoft.ai/events/69673-chinese-yuan-continues-to-climb-against-usd-people-s-daily-online.md) | -1.7% | +1.0% |
| USDCNY | 2018-02-23 | [Chinese yuan against the dollar: China currency appreciation](https://feedsoft.ai/events/66714-chinese-yuan-against-the-dollar-china-currency-appreciation.md) | +0.1% | -0.3% |
| USDCNY | 2020-01-14 | [China's yuan strengthens to 5-month high - Chinadaily.com.cn](https://feedsoft.ai/events/55313-china-s-yuan-strengthens-to-5-month-high-chinadaily-com-cn.md) | +0.2% | +1.1% |

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/chinas-yuan-unlikely-continue-rapid-depreciation-state-media-2022-09-29/

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