RMB Exchange Rate Market Snapshot

The RMB central parity depreciated about 0.02% at 7.1796 last Friday; the RMB exchange rate in the interbank market was about 0.05% higher at 7.3133 last week; the 1-year swap point rose 67 bps to close the week at -2,661.
The 1-year overseas USD/CNH non-deliverable forward (NDF) dropped 135 bps to close the week at 7.1260.

Exchange Rate Market Snapshot

The US Dollar Index (DXY) closed the week 1.44% lower at 105.021.
EUR/USD closed the week 1.56 % higher at 1.0729.
USD/JPY closed the week 0.15% lower at 149.37.
AUD/USD closed the week 2.81% higher at 0.6512.

RMB Interest Rate Market Snapshot

Money market: The overnight Shanghai Interbank Offered Rate (Shibor) and the overnight fixing repo rate closed at 1.62% and 1.70%, respectively. The 7-day Shibor and the 7-day fixing repo rate closed the week at 1.74% and 1.82%, respectively.
Secondary market: The yield on the 10-year China Government Bond (CGB) fell 5 bps, closing the week at 2.66%. The yield on the 5-year China Development Bank (CDB) bonds fell 2 bps to close at 2.57%.
Primary market: The Ministry of Finance auctioned 91-day discounted 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, 7-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 77 super & short-term commercial papers (SCPs) were issued with an aggregate size of RMB68.12 billion; 15 SCPs were issued with an aggregate size of RMB13.56 billion; 67 medium-term notes (MTNs) were issued with an aggregate size of RMB55.42 billion.
Secondary market: The yields on SCPs remained range-bound, and the yields on MTNs and corporate bonds both fluctuated downward.

FCY Interest Rate Market Snapshot

The price of US Treasuries saw an overall rise, with the 10-year US Treasury yield closing the week 26.3 bps lower at 4.572%.
The price of German Government Bonds was on the rise, with the 10-year yield closing the week 18.7 bps lower at 2.645%.

Precious Metals Market Snapshot

The gold price fell 0.67% to close the week at USD1,992.27 an ounce.
The silver price rose 0.26% to close the week at USD23.20 an ounce.
The platinum price rose 2.90% to close the week at USD930.02 an ounce.
The palladium price fell 0.22% to close the week at USD1,119.44 an ounce.

Crude Oil Market Snapshot

The WTI crude oil futures fell 8.39% for the most-active contracts, closing the week at USD80.89 per barrel.
The Brent crude oil futures fell 4.42% for the most-active contracts, closing the week at USD85.23 per barrel.

Base Metals Market Snapshot

The LME 3-month copper price rose 0.96% to close the week at USD8,168.50 per tonne.

Agricultural Products Market Snapshot

The CBOT soybean futures rose 2.77% for the most-active contracts to close the week at 1,354.00 US cents a bushel.

Natural Gas Market Snapshot

NYMEX natural gas futures rose 0.96% for the most-active contracts, closing the week at USD3.473 per million British thermal units.

Please see attached.
ICBC Markets Weekly （October 30-November 3, 2023）.pdf