The yuan held broadly steady against the dollar as seasonal conversion of exporters’ foreign-currency earnings helped offset support for the dollar from strong US employment data. Companies were bringing forward some planned dollar sales, while China’s central bank set a weaker daily midpoint of 6.7188 per dollar, its lowest since October 22.
Exporter conversions can support the yuan and temper the increase in local-currency costs for imported feed ingredients, while dollar strength and the weaker midpoint point the other way. The immediate exchange-rate effect described was limited.
After 169 past neutral macro events, Chinese Yuan (CNY per USD) moved a median +0.0% over 5 sessions (50% higher; middle half -0.3% to +0.2%), and -0.0% 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.