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A BIS Quarterly Review piece reports that renminbi turnover averaged over $280 billion a day in April 2019, making it the world's eighth most traded currency. Its share of global FX trading rose to 4.3% in 2019, and onshore trading gained share relative to offshore CNH trading.
Restrictions on capital flows continue to hold back renminbi trading relative to China's economic weight. This is a structural finding with no direct price implication for feed commodities.
After 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.
