Asian FX gains as dollar falls on U.S. midterm results, yuan weakens on PBOC move

After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.

• Dec 4, 2018Brazil stocks gain; real firms as U.S. dollar weakens+0.7%
• Oct 31, 2019Gold gains as dollar weakens after Fed's interest rate cut-0.1%
• Feb 28, 2020Baht gains more ground, as US dollar weakens-0.5%
• Mar 4, 2025Euro gains after German debt reform; US dollar falls-1.2%
• Nov 24, 2023Gold leaps above $2,000 as dollar weakens on Fed pause bets | Reuters-0.4%

Not enough comparable past events yet for a historical read.

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.

• Dec 28, 2022China's yuan weakens as U.S. dollar gains on sustained inflation outlook | Financial Post-1.0%
• Jul 28, 2021Asian currencies: Chinese yuan, Hong Kong dollar weaken as China stocks fall-0.6%
• Dec 3, 2024CNY/USD: China’s Yuan Falls to One-Year Low on Tariff Risk, Dollar Gains - Bloomberg-0.2%
• Nov 28, 2022Dollar weakens as U.S. bond yields drop-2.0%
• May 29, 2024Chinese yuan falls to six-month low on dollar strength - Nikkei Asia-0.1%