
China's central bank is dialing back its efforts to support the yuan as expectations build for a stronger currency. The onshore yuan (CNY) and offshore yuan (CNH) have each risen about 1% against the dollar in May, and the CNY touched around 7.16 per dollar, its strongest since November.
The gains follow new Chinese stimulus measures and a 90-day suspension of some US-China tariffs.
A firmer yuan lowers the cost of dollar-priced imports for Chinese buyers, which can support Chinese demand for feed commodities. The effect on grain prices is modest, though.
Setelah 362 peristiwa makro bearish sebelumnya, Yuan Tiongkok (CNY per USD) bergerak median -0,1% selama 5 sesi (42% lebih tinggi; separuh tengah -0,4% sampai +0,1%), dan -0,2% selama 20 sesi.
Pergerakan benchmark setiap komoditas dari penutupan terakhir sebelum peristiwa. Pembacaan historis menggabungkan peristiwa serupa di masa lalu; itu menggambarkan apa yang terjadi, bukan apa yang akan terjadi. Bukan nasihat investasi.