RMB Exchange Rate Market Snapshot

The RMB central parity was 0.03% higher at 7.1775 last Friday; the RMB exchange rate in the interbank market depreciated by about 0.05% to close the week at 7.3040; the 1-year swap point rose 90 bps to close the week at -2635.
The 1-year overseas USD/CNH non-deliverable forward (NDF) fell 17 bps to close the week at 7.1275.

Exchange Rate Market Snapshot

The USD Dollar Index (DXY) closed the week 0.57% higher at 106.648.
EUR/USD closed the week 0.73% lower at 1.0509.
USD/JPY closed the week 0.15% higher at 149.55.
AUD/USD closed the week 1.44% lower at 0.6291.

RMB Interest Rate Market Snapshot

Money market: The overnight Shanghai Interbank Offered Rate (Shibor) and the overnight fixing repo rate closed at 1.74% and 1.83%, respectively. The 7-day Shibor and the 7-day fixing repo rate closed the week at 1.89% and 2.05%, respectively.
Secondary market: The yield on the 10-year China Government Bond (CGB) fell 2 bps, closing the week at 2.71%. The yield on the 5-year China Development Bank (CDB) bonds rose 3 bps to close at 2.58%.
Primary market: The Ministry of Finance auctioned 28-day, 63-day and 91-day discounted CGBs and 3-year, 5-year and 30-year coupon-bearing CGBs; the Agricultural Development Bank of China (ADBC) auctioned 1-year, 2-year, 3-year, 5-year, 7-year and 10-year fixed-rate bonds; the China Development Bank (CDB) auctioned 1-year, 2-year, 3-year, 5-year and 10-year fixed-rate bonds; the Export-Import Bank of China (CEXIM) auctioned 1-year, 2-year, 3-year, 5-year and 10-year fixed-rate bonds.

RMB Credit Bond Market Snapshot

Primary market: A total of 79 super & short-term commercial papers (SCPs) were issued with an aggregate size of RMB86,495 million; nine SCPs were issued with an aggregate size of RMB5.48 billion; 40 medium-term notes (MTNs) were issued with an aggregate size of RMB37,425 million.
Secondary market: The yields on SCPs and MTNs fell in choppy trading, with the enterprise bond yields moving upward within a narrow band.

FCY Interest Rate Market Snapshot

The price of US Treasuries went down, with the 10-year US Treasury yield closing the week 18.9 bps lower at 4.612%.
The price of German Government Bonds was range-bound, with the 10-year yield closing the week 14.7 bps lower at 2.737%.

Precious Metals Market Snapshot

The gold price rose 5.43% to close the week at USD1,931.70 an ounce.
The silver price rose 5.14% to close the week at USD22.70 an ounce.
The platinum price rose 0.47% to close the week at USD881.03 an ounce.
The palladium price fell 0.87% to close the week at USD1,147.89 an ounce.

Crude Oil Market Snapshot

The WTI crude oil futures rose 6.41% for the most-active contracts, closing the week at USD86.37 per barrel.
The Brent crude oil futures rose 7.54% for the most-active contracts, closing the week at USD90.80 per barrel.

Base Metals Market Snapshot
The LME 3-month copper price fell 1.19% to close the week at USD7,949.00 per tonne.
Agricultural Products Market Snapshot
The CBOT soybean futures rose 1.44% for the most-active contracts to close the week at 1,282.00 US cents a bushel.

Natural Gas Market Snapshot

NYMEX natural gas futures fell 3.66% for the most-active contracts, closing the week at USD3.208 per million British thermal units.

Please see attached.
ICBC Markets Weekly （October 9-13, 2023）.pdf