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The Fed raised rates 50 basis points to a 0.75 to 1 percent target range, its sharpest hike in over two decades, with more tightening expected. Analysts warn capital will flow back to the US and pressure the yuan, while the PBOC kept its policy rate unchanged and lifted the yuan midpoint.
Capital outflows and yuan depreciation weigh on Chinese feed demand purchasing power, and a firmer dollar tends to pressure dollar-priced grain and meal values.
scmp.comFrank Tang5 de mai. de 2022Após 398 eventos altista de macro passados, Yuan chinês (CNY por USD) subiu em mediana +0,0% em 5 sessões (56% de alta; metade central de -0,3% a +0,5%), e +0,0% em 20.
Após 2.356 eventos altista de macro passados, Dólar americano (amplo) subiu em mediana +0,2% em 5 sessões (60% de alta; metade central de -0,3% a +0,7%), e +0,4% em 20.
Variações do benchmark de cada commodity desde o último fechamento antes do evento. As leituras históricas agregam eventos passados do mesmo tipo; descrevem o que aconteceu, não o que vai acontecer. Não é recomendação de investimento.
The Fed's 50bp hike on May 4 and signals of further tightening widened the policy divergence with the PBOC, pushing capital toward USD assets and weakening CNY.
The Fed's 50bp hike and expectations of more tightening widen policy divergence with the PBOC, driving capital outflow and dollar strength that pressure the yuan.
The Fed's 50bp hike and expected further tightening widen the rate differential and encourage capital outflows, which pressure the yuan, though it predates the move by a few days.
