
The onshore yuan edged up 0.03% against the dollar while offshore trading was largely flat. Seasonal corporate dollar selling helped offset greenback strength after strong US jobs data, while the PBOC set a weaker-than-expected midpoint rate.
The competing flows left the yuan little changed, limiting any immediate impact on Chinese import costs. A stronger dollar and the weaker midpoint indicate some downward pressure on the yuan.
After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
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.