# Yuan Sell-Off Gathers Pace On Economy, Trade Fears - Caixin Global

> The yuan extended its losing streak against the dollar, closing at 6.5950 per dollar, its fifth straight session of declines and lowest close since December 2017. Investors cited concerns over a looming Sino-U.S. trade war and expectations of further monetary easing by the People's Bank of China. The currency had already weakened about 3% since June 14 after disappointing growth data.

- Date: 2018-06-27 · published 2018-06-27T12:00:00.000Z
- Category: macro · region China · magnitude medium
- Page: https://feedsoft.ai/events/8530-yuan-sell-off-gathers-pace-on-economy-trade-fears-caixin-global
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A weaker yuan makes Chinese purchases of US farm goods and feed ingredients more expensive in dollar terms, which can dampen import demand and pressure US soybean and meal prices. Continued currency weakness also signals stress in China's growth outlook, which weighs on feed demand.

## Read by commodity

- USDCNY: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| USDCNY | 2018-06-28 | 5 | +2.1% | 3.8 | Reports a fifth straight session of yuan declines to a six-month low on trade-war fears and expected PBOC easing, which directly explains the USD/CNY rise within the window. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2023-03-31 | [Widening U.S.-China Rate Gap Set to Weigh on Yuan’s Resilience - Caixin Global](https://feedsoft.ai/events/37088-widening-u-s-china-rate-gap-set-to-weigh-on-yuan-s-resilience-caixin-global.md) | +0.1% | +0.8% |
| USDCNY | 2019-05-18 | [Onshore Yuan Breaks 6.9 Against U.S. Dollar as Trade War Intensifies - Caixin Global](https://feedsoft.ai/events/59281-onshore-yuan-breaks-6-9-against-u-s-dollar-as-trade-war-intensifies-caixin.md) | -0.3% | +0.1% |
| USDCNY | 2018-11-01 | [Caixin Explains: Why 7 Is the Yuan’s Unlucky Number - Caixin Global](https://feedsoft.ai/events/62270-caixin-explains-why-7-is-the-yuan-s-unlucky-number-caixin-global.md) | -0.8% | -0.3% |
| USDCNY | 2022-10-22 | [Yuan Falls to Lowest Level Since 2008 on Hawkish Fed and Growth Risks - Caixin Global](https://feedsoft.ai/events/6934-yuan-falls-to-lowest-level-since-2008-on-hawkish-fed-and-growth-risks-caixin.md) | +0.1% | -1.0% |
| USDCNY | 2022-05-31 | [In Depth: Behind the Yuan’s Tumble Against the Dollar - Caixin Global](https://feedsoft.ai/events/41602-in-depth-behind-the-yuan-s-tumble-against-the-dollar-caixin-global.md) | -0.7% | +0.1% |

## Sources

- caixinglobal.com: https://www.caixinglobal.com/2018-06-27/yuan-sell-off-gathers-pace-on-economy-trade-fears-101285734.html

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