The Chinese yuan slid to near eight-month lows against the US dollar after June consumer price data missed expectations and producer prices continued to deflate. The PBOC set its daily midpoint at 7.1342, its weakest since November 2023, while the dollar rebounded after Fed Chair Powell suggested rate cuts might not come as soon as markets hoped.
Weak yuan and firm dollar make Chinese feed imports from the US and Brazil more expensive in local currency, which can dampen Chinese demand for soybeans, meal and corn. Controlled yuan weakness signals soft domestic demand, a modestly bearish backdrop for Chinese-linked feed demand.
Na 398 eerdere opwaarts macro-gebeurtenissen bewoog Chinese yuan (CNY per USD) zich mediaan +0,0% over 5 sessies (56% hoger; middelste helft -0,3% tot +0,5%), en +0,0% over 20.
Na 273 eerdere neerwaarts macro-gebeurtenissen bewoog Sojabonen zich mediaan -0,4% over 5 sessies (44% hoger; middelste helft -2,4% tot +1,4%), en -0,5% over 20.
Na 2.356 eerdere opwaarts macro-gebeurtenissen bewoog Amerikaanse dollar (breed) zich mediaan +0,2% over 5 sessies (60% hoger; middelste helft -0,3% tot +0,7%), en +0,4% over 20.
Bewegingen van de benchmark van elke grondstof sinds de laatste slotkoers vóór de gebeurtenis. Historische waarden bundelen eerdere gebeurtenissen van hetzelfde soort; ze beschrijven wat er gebeurde, niet wat zal gebeuren. Geen beleggingsadvies.
Weak June CPI/PPI and a dollar rebound pushed the yuan to eight-month lows around 7/10, with the PBOC's weakest fixing since November 2023 feeding into the 7/11 CNY move.