
A China Financial News article published by the central bank said the current round of U.S. dollar appreciation has reached its peak with limited upside. The yuan hit a two-week high after Fed Chair Powell said rate increases could be scaled back as soon as December.
The article cited record outflows from Chinese assets as context.
Expectations of slower U.S. rate hikes weaken the dollar, which supports dollar-priced commodities and eases pressure on Chinese importers. The impact depends on whether the Fed actually slows its pace.
Na 1.637 eerdere neerwaarts macro-gebeurtenissen bewoog Amerikaanse dollar (breed) zich mediaan -0,2% over 5 sessies (39% hoger; middelste helft -0,6% tot +0,3%), en -0,2% over 20.
Na 362 eerdere neerwaarts macro-gebeurtenissen bewoog Chinese yuan (CNY per USD) zich mediaan -0,1% over 5 sessies (42% hoger; middelste helft -0,4% tot +0,1%), en -0,2% 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.
Powell's signal of scaled-back rate hikes and the PBoC view that dollar strength had peaked lifted the yuan to a two-week high, contributing to the fall in CNY per USD.