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The renminbi strengthened after Chinese data beat expectations, with real GDP growth of 1.5% in the fourth quarter and retail sales and industrial production growth above forecasts. The dollar fell 0.3% against the yuan while global share prices rose.
Stronger Chinese industrial output and retail data point to firmer demand for animal protein and feed, supporting feed ingredient demand, though the impact on grain prices is modest.
currencythoughts.comJan 17, 2020After 24 past report events, Chinese Yuan (CNY per USD) moved a median -0.0% over 5 sessions (46% higher; middle half -0.3% to +0.4%), and -0.9% 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.
