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Xinhua reports the yuan fell to 6.96 offshore on June 7 and 6.93 onshore on June 10 amid US-China trade frictions. Chinese officials and economists say the currency will remain stable given solid fundamentals.
Official signals of yuan stability reduce currency-driven volatility in Chinese import demand for soybeans and meal, so the effect on grain prices is limited.
en.xfafinance.comJun 17, 2019After 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.
