Key Takeaways:

RMB Exchange Rate Market Snapshot

The RMB central parity was about 0.02% higher at 7.1782 last Friday; the RMB exchange rate in the interbank market depreciated by about 0.02% to close the week at 7.3166; the 1-year swap point fell 83 bps to close the week at -2,728.
The 1-year overseas USD/CNH non-deliverable forward (NDF) rose 68 bps to close the week at 7.1395.

Exchange Rate Market Snapshot

The US Dollar Index (DXY) closed the week 0.37% higher at 106.559.
EUR/USD closed the week 0.27% lower at 1.0564.
USD/JPY closed the week 0.16% lower at 149.60.
AUD/USD closed the week 0.35% higher at 0.6334.

RMB Interest Rate Market Snapshot

Money market: The overnight Shanghai Interbank Offered Rate (Shibor) and the overnight fixing repo rate closed at 1.63% and 1.72%, respectively. The 7-day Shibor and the 7-day fixing repo rate closed the week at 2.05% and 2.50%, respectively.
Secondary market: The yield on the 10-year China Government Bond (CGB) fell two bps, closing the week at 2.71%. The yield on the 5-year China Development Bank (CDB) bonds fell five bps to close at 2.59%.
Primary market: The Ministry of Finance auctioned 91-day and 182-day discounted CGBs and 1-year and 10-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, 5-year and 10-year fixed-rate bonds.

RMB Credit Bond Market Snapshot

Primary market: A total of 100 super & short-term commercial papers (SCPs) were issued with an aggregate size of RMB96,831 million; 14 SCPs were issued with an aggregate size of RMB7.36 billion; 106 medium-term notes (MTNs) were issued with an aggregate size of RMB109,990 million.
Secondary market: The yields on SCPs edged up, the yields on MTNs dropped slightly, and the yields on corporate bonds showed small fluctuations.

FCY Interest Rate Market Snapshot

The price of US Treasuries saw an overall rise, with the 10-year US Treasury yield closing the week 7.9 bps lower at 4.835%.
The price of German Government Bonds was range-bound, with the 10-year yield closing the week 5.7 bps lower at 2.832%.

Precious Metals Market Snapshot

The gold price rose 1.25% to close the week at USD2,005.78 an ounce.
The silver price fell 0.90% to close the week at USD23.14 an ounce.
The platinum price rose 1.01% to close the week at USD903.81 an ounce.
The palladium price rose 2.19% to close the week at USD1,121.89 an ounce.

Crude Oil Market Snapshot

The WTI crude oil futures fell 3.56% for the most-active contracts, closing the week at USD85.16 per barrel.
The Brent crude oil futures fell 2.24% for the most-active contracts, closing the week at USD89.17 per barrel.

Base Metals Market Snapshot

The LME 3-month copper price rose 1.90% to close the week at USD8,091.00 per tonne.

Agricultural Products Market Snapshot

The CBOT soybean futures fell 0.17% for the most-active contracts to close the week at 1,317.50 US cents a bushel.

Natural Gas Market Snapshot

NYMEX natural gas futures rose 5.52% for the most-active contracts, closing the week at USD3.440 per million British thermal units.

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