Loading…
A commentary argues the US dollar and yuan dynamics are driven by economic fundamentals, with China recovering from COVID-19 while US cases are rising sharply. It describes US economic recovery as stalling since mid-June.
A weaker US economic outlook relative to China supports a softer dollar and a firmer yuan, which can affect China's import purchasing power for US feed inputs.
asiafinancial.comUwe ParpartJul 2, 2020After 362 past bearish macro events, USDCNY moved a median -0.1% over 5 sessions (42% higher; middle half -0.4% to +0.1%), and -0.2% over 20.
After 1,637 past bearish macro events, DXY moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% 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.
