Asian currencies traded mixed on Monday as the onshore yuan held near its strongest level since June 2022 at about 6.65 per dollar. The dollar index rose 0.1% to 101.94, the euro sat near a 17-month low, and the yen weakened slightly to 157.88 ahead of the US midterms.
A stronger yuan lowers China's cost of dollar-priced imports such as soybeans and corn, supporting Chinese buying, while a weak euro and yen make US feed exports relatively pricier for European and Japanese buyers.
Not enough comparable past events yet for a historical read.
After 359 past neutral macro events, US Dollar (Broad) moved a median -0.0% over 5 sessions (49% higher; middle half -0.4% to +0.4%), and -0.1% over 20.
After 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 533 past bearish macro events, Euro (USD per EUR) moved a median -0.3% over 5 sessions (33% higher; middle half -1.2% to +0.2%), and -0.5% 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.