The Australian dollar rose on hawkish RBA expectations while the onshore yuan fell 0.2% to 6.8553 per dollar after the PBOC moved to slow its appreciation. Currency moves in February were driven mainly by shifting rate expectations.
Currency moves here are driven by rate expectations and have only indirect effects on feed commodity pricing.
Not enough comparable past events yet for a historical read.
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.
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.
The onshore yuan fell 0.2% after the PBOC acted to slow appreciation, which is the immediate price reaction just before the 0.35% move.