# Chinese yuan weakens to 7.0638 against USD Friday_Xinhua Finance Agency

> Xinhua reported that the yuan central parity rate weakened 72 pips to 7.0638 against the dollar on July 3. The rate is set from a weighted average of market-maker quotes, and spot trading is allowed to move 2 percent either side.

- Date: 2020-07-03 · published 2020-07-03T12:00:00.000Z
- Category: policy · region China · magnitude low
- Page: https://feedsoft.ai/events/9736-chinese-yuan-weakens-to-7-0638-against-usd-friday-xinhua-finance-agency
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

The fixing move raises the yuan cost of dollar-priced feed imports, a mildly bullish signal for dollar-denominated feed commodity prices. The impact is small.

## Read by commodity

- USDCNY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2017-01-09 | [1st LD-Writethru: Chinese yuan weakens to 6.9262 against USD Monday - Xinhua \| English.news.cn](https://feedsoft.ai/events/10770-1st-ld-writethru-chinese-yuan-weakens-to-6-9262-against-usd-monday-xinhua.md) | -0.3% | -0.5% |
| USDCNY | 2020-10-28 | [Yuan eases after China tweaks fixing formula to rein in strength \| Financial Post](https://feedsoft.ai/events/50848-yuan-eases-after-china-tweaks-fixing-formula-to-rein-in-strength-financial-post.md) | -0.4% | -1.9% |
| USDCNY | 2021-10-20 | [China Sets Weaker-Than-Expected Yuan Fix, Adds More Cash  - Caixin Global](https://feedsoft.ai/events/7480-china-sets-weaker-than-expected-yuan-fix-adds-more-cash-caixin-global.md) | -0.0% | -0.1% |
| USDCNY | 2026-02-27 | [USD/CNY & USD/CNH jump as PBoC cuts FX RRR to zero, cooling yuan gains](https://feedsoft.ai/events/20790-usd-cny-and-usd-cnh-jump-as-pboc-cuts-fx-rrr-to-zero-cooling-yuan-gains.md) | +0.7% | +1.0% |
| USDCNY | 2022-01-17 | [Chinese yuan under pressure from medium-term loans cut: Strategist](https://feedsoft.ai/events/43361-chinese-yuan-under-pressure-from-medium-term-loans-cut-strategist.md) | -0.3% | +0.1% |

## Sources

- en.xfafinance.com: http://en.xfafinance.com/html/Markets/Currencies/2020/579704.shtml

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