# Goldman Sachs expects USD/CNY to decline further

> Goldman Sachs expects USD/CNY to fall further, citing optimism around US-China trade talks and a shift from short to long yuan positions. It said the move could be swift and event-driven near term, with the PBOC likely guiding a more gradual adjustment.

- Date: 2025-05-06 · published 2025-05-06T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/9624-goldman-sachs-expects-usd-cny-to-decline-further
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A lower USD/CNY, meaning a stronger yuan, can lift Chinese import purchasing power for soybeans and other feed inputs. The forecast is a currency view rather than a direct supply change.

## Read by commodity

- USDCNY: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| USDCNY | 2025-05-06 | 1 | -0.7% | -3.6 | Goldman's call for further USD/CNY declines, with short-to-long yuan position shifts and trade-talk optimism, reflects the sentiment and positioning that contributed to the move. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2024-06-21 | [USD/CNY: PBOC Gives Strongest Boost to Yuan Since April to Manage Decline - Bloomberg](https://feedsoft.ai/events/30005-usd-cny-pboc-gives-strongest-boost-to-yuan-since-april-to-manage-decline.md) | +0.1% | +0.1% |
| USDCNY | 2017-04-19 | [Goldman Sachs: We’re closing two of our long-dollar ‘top trades’](https://feedsoft.ai/events/71410-goldman-sachs-we-re-closing-two-of-our-long-dollar-top-trades.md) | +0.1% | +0.1% |
| USDCNY | 2020-12-07 | [USD/CNY: Chinese exports surge, US sanctions to limit yuan appreaciation – TDS — Octa](https://feedsoft.ai/events/49867-usd-cny-chinese-exports-surge-us-sanctions-to-limit-yuan-appreaciation-tds-octa.md) | +0.2% | -1.0% |
| USDCNY | 2025-11-14 | [Yuan firms to one-year high on exporter US dollar selling](https://feedsoft.ai/events/22175-yuan-firms-to-one-year-high-on-exporter-us-dollar-selling.md) | +0.2% | -0.6% |
| USDCNY | 2020-10-09 | [USD/CNY catch-up may have more to go - MUFG - Forex Crunch](https://feedsoft.ai/events/5560-usd-cny-catch-up-may-have-more-to-go-mufg-forex-crunch.md) | -1.4% | -2.7% |

## Sources

- investinglive.com: https://investinglive.com/news/goldman-sachs-expects-usdcny-to-decline-further-20250506/

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