RMB Exchange Rate Market Snapshot
The RMB central parity was 0.03% lower at 7.1793 last Friday; the RMB exchange rate in the interbank market depreciated by about 0.15% to close the week at 7.3150; the 1-year swap point fell ten bps to close the week at -2,645.
The 1-year overseas USD/CNH non-deliverable forward (NDF) rose 52 bps to close the week at 7.1327.

Exchange Rate Market Snapshot
The USD Dollar Index (DXY) closed the week 0.45% lower at 106.163.
EUR/USD closed the week 0.80% higher at 1.0593.
USD/JPY closed the week 0.19% higher at 149.84.
AUD/USD closed the week 0.33% higher at 0.6312.

RMB Interest Rate Market Snapshot
Money market: The overnight Shanghai Interbank Offered Rate (Shibor) and the overnight fixing repo rate closed at 1.91% and 2.00%, respectively. The 7-day Shibor and the 7-day fixing repo rate closed the week at 2.10% and 2.80%, respectively.
Secondary market: The yield on the 10-year China Government Bond (CGB) rose two bps, closing the week at 2.73%. The yield on the 5-year China Development Bank (CDB) bonds rose seven bps to close at 2.65%.
Primary market: The Ministry of Finance auctioned 91-day and 182-day discounted CGBs and 2-year and 7-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, 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 97 super & short-term commercial papers (SCPs) were issued with an aggregate size of RMB93,584 million; 15 SCPs were issued with an aggregate size of RMB12.5 billion; 98 medium-term notes (MTNs) were issued with an aggregate size of RMB89,034 million.
Secondary market: The yields on SCPs fluctuated within a range, with the enterprise bond and MTNs yields moving upward within a narrow band.

FCY Interest Rate Market Snapshot
The price of US Treasuries saw an overall decline, with the 10-year US Treasury yield closing the week 30.1 bps higher at 4.914%.The price of German Government Bonds was range-bound, with the 10-year yield closing the week 15.2 bps higher at 2.889%.

Precious Metals Market Snapshot
The gold price rose 2.55% to close the week at USD1,981.04 an ounce.
The silver price rose 2.86% to close the week at USD23.35 an ounce.
The platinum price rose 1.56% to close the week at USD894.75 an ounce.
The palladium price fell 4.36% to close the week at USD1,097.88 an ounce.

Crude Oil Market Snapshot
The WTI crude oil futures rose 2.23% for the most-active contracts, closing the week at USD88.30 per barrel.
The Brent crude oil futures rose 1.88% for the most-active contracts, closing the week at USD92.51 per barrel.

Base Metals Market Snapshot
The LME 3-month copper price fell 0.11% to close the week at USD7,940.00 per tonne.

Agricultural Products Market Snapshot
The CBOT soybean futures rose 1.40% for the most-active contracts to close the week at 1,319.75 US cents a bushel.

Natural Gas Market Snapshot
NYMEX natural gas futures fell 8.32% for the most-active contracts, closing the week at USD3.260 per million British thermal units.

Please see attached.
ICBC Markets Weekly (October 16-20, 2023).pdf