# CNY: Calm even with disappointing economic data - ING - Forex Crunch

> Chinese economic data slowed unexpectedly, yet the yuan firmed slightly against the dollar to 6.8726 on optimism about trade negotiations. ING expects USD/CNY to move in step with trade war sentiment and to return toward 6.75 if the US and China reach a deal at the G20 in June.

- Date: 2019-05-15 · published 2019-05-15T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/8444-cny-calm-even-with-disappointing-economic-data-ing-forex-crunch
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Weak Chinese economic data signals softer feed demand from the largest importer, while expectations of a trade deal would support Chinese purchases of US soybeans and corn.

## Read by commodity

- SOY: neutral
- USDCNY: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2017-05-25 | [StanChart’s chief economist says these four currencies will move most on Fed shock](https://feedsoft.ai/events/70926-stanchart-s-chief-economist-says-these-four-currencies-will-move-most-on-fed.md) | -3.8% | -4.7% |
| SOY | 2023-08-31 | [China’s economic slump may spare ag exports \| The Western Producer](https://feedsoft.ai/events/34555-china-s-economic-slump-may-spare-ag-exports-the-western-producer.md) | -2.6% | -5.8% |
| SOY | 2020-02-24 | [Economist expects new considerations in grain markets \| 2020-02-24  \| World Grain](https://feedsoft.ai/events/54625-economist-expects-new-considerations-in-grain-markets-2020-02-24-world-grain.md) | -0.8% | -3.1% |
| SOY | 2018-05-14 | [Inflation forces building](https://feedsoft.ai/events/10235-inflation-forces-building.md) | +0.4% | -4.1% |
| SOY | 2021-07-23 | [August Fed Tightening Announcement May Not Be Bearish For Commodities \| Investing.com Canada](https://feedsoft.ai/events/45974-august-fed-tightening-announcement-may-not-be-bearish-for-commodities-investing.md) | +1.3% | -6.6% |
| USDCNY | 2019-01-18 | [China: Deteriorating data could be problematic for CNY - TDS - Forex Crunch](https://feedsoft.ai/events/61316-china-deteriorating-data-could-be-problematic-for-cny-tds-forex-crunch.md) | -0.4% | -0.1% |
| USDCNY | 2019-04-29 | [USD/CNY: Sharp appreciation or depreciation unlikely in 2019? - ING - Forex Crunch](https://feedsoft.ai/events/59805-usd-cny-sharp-appreciation-or-depreciation-unlikely-in-2019-ing-forex-crunch.md) | +0.1% | +2.5% |
| USDCNY | 2019-01-31 | [CNY: Guided by the US-China trade talks - Westpac - Forex Crunch](https://feedsoft.ai/events/61312-cny-guided-by-the-us-china-trade-talks-westpac-forex-crunch.md) | +0.5% | -0.1% |

## Sources

- forexcrunch.com: https://www.forexcrunch.com/blog/2019/05/15/cny-calm-even-with-disappointing-economic-data-ing/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.