◂ Gebeurtenissenverloop

25 okt 2022MACROChina

FX Daily: People’s Bank of China loosens its hold on the renminbi

The People's Bank of China set a much weaker USD/CNY midpoint fixing of 7.1668, after holding the rate near 7.11 since late September. ING reads this as Beijing allowing market forces a bigger role in the yuan and a dollar-positive development.

WAAROM HET ER TOE DOET

A weaker yuan raises the cost of dollar-priced imports for China, which can slow purchases of US soybeans, corn and meal at the margin. It also signals policy tolerance for further yuan weakness.

BETREFTChinese yuan (CNY per USD)▲

BRON
think.ing.comChris Turner, Frantisek Taborsky, Francesco Pesole25 okt 2022

Koersreactie & historie

Chinese yuan (CNY per USD)▲opwaartsTOT NU TOE1d +0,1%5d +0,6%20d -1,7%

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.

16 apr 2025Asia FX Talking: Pressure builds on the renminbi | articles | ING THINK-0,0%
9 mei 2022FX Daily: Renminbi re-appraisal keeps emerging market FX on back foot | articles | ING THINK+1,8%
3 jun 2019China: Revising yuan lower but 7.0 should hold | articles | ING THINK+0,0%
8 mei 2019EM FX: Floating in a sea of red | articles | ING THINK+1,4%
20 feb 2020Breaking: The People's Bank of China cut interest rates: AUD and Yuan sliding — Octa+0,3%

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.

Chinese yuan (CNY per USD) USDCNY · GP ▸

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