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China's yuan rose to a seven-week high against the dollar after the government eased some COVID-19 controls, including shorter quarantines for close contacts and removal of airline penalties for infected arrivals. The move was reinforced by a softer-than-expected US inflation reading that weakened the dollar.
A firmer yuan and easing COVID restrictions improve Chinese import purchasing power and economic outlook, which modestly supports demand for grains and meals.
brecorder.comReuters11 nov 2022Na 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.
Easing of COVID curbs plus softer US CPI weakened the dollar and sent the yuan to a 7-week high, directly driving the CNY per USD drop.
China's easing of some COVID curbs and a softer US CPI weakened the dollar and sent the yuan to a seven-week high, driving the sharp CNY per USD decline into Nov 14.
