◂ Event Timeline

Mar 15, 2017MACROChina

USD/CNH is flashing green as PBOC fixed CNY midpoint at weakest since Mar. 15, 2017

The offshore yuan rose against the dollar after the PBOC set its daily midpoint at 6.9072, weaker than Reuters' estimate of 6.9009. The article also cites a Reuters poll expecting the yuan to pare losses over the next year.

WHY IT MATTERS

A weaker-than-expected fixing signals official tolerance for yuan weakness, which can lift the dollar cost of Chinese imports. The effect on feed prices is indirect and short-lived.

AFFECTSChinese Yuan (CNY per USD)▲

SOURCE
octaafrica.netMar 15, 2017

Price reaction & history

Chinese Yuan (CNY per USD)▲bullishSO FAR1d +0.0%5d -0.4%20d -0.3%

After 398 past bullish macro events, Chinese Yuan (CNY per USD) moved a median +0.0% over 5 sessions (56% higher; middle half -0.3% to +0.5%), and +0.0% over 20.

Nov 7, 2024CNY/USD: China Sets Yuan Fix at Weakest Since 2023 - Bloomberg+0.7%
Oct 25, 2022China’s Yuan CNY USD Drops as PBOC Sets Fix at Weakest Level in 14 Years - Bloomberg+0.6%
Jun 29, 2026PBoC sets USD/CNY fix above forecasts, hinting at managed yuan depreciation as growth concerns linger - VT Markets-0.0%
Oct 29, 2018China's yuan finishes onshore trading at weakest since 2008 By Reuters-0.8%
Jul 1, 2024China Loosens Grip on Yuan With Weakest Fixing Since November+0.0%

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.

Chinese Yuan (CNY per USD) USDCNY · GP ▸

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