I. RMB Exchange Rate Market Snapshot
The RMB central parity was flat with a week ago at 7.1315 last Friday; the RMB exchange rate in the interbank market depreciated by about 0.12% to close the week at 7.2672; the 1-year swap point rose 4 bps to close the week at -2,890.
The 1-year overseas USD/CNH non-deliverable forward (NDF) rose 30 bps to close the week at 7.0625.

II. Exchange Rate Market Snapshot
The USD Dollar Index (DXY) closed the week 0.29% higher at 104.396.
EUR/USD closed the week 0.27% lower at 1.0877.
USD/JPY closed the week 0.25% lower at 157.49.
AUD/USD closed the week 1.49% lower at 0.6682.

III. RMB Interest Rate Market Snapshot
Money market: The overnight Shanghai Interbank Offered Rate (Shibor) and the overnight fixing repo rate closed at 1.86% and 1.90%, respectively. The 7-day Shibor and the 7-day fixing repo rate closed the week at 1.86% and 1.90%, respectively.
Secondary market: The yield on the 10-year China Government Bond (CGB) was largely flat with a week ago, closing at 2.27%. The yield on the 5-year China Development Bank (CDB) bonds fell 1 bp to close at 2.02%.
Primary market: The Ministry of Finance auctioned182-day discounted CGBs and 1-year, 7-year and 30-year coupon-bearing CGBs. ADBC auctioned 0.25-year, 1-year, 2-year, 3-year, 5-year, 7-year and 10-year fixed-rate bonds; CDB auctioned 3-year, 5-year, 7-year and 10-year fixed-rate bonds; CEXIM auctioned 1-year, 3-year and 10-year fixed-rate bonds. 

IV. RMB Credit Bond Market Snapshot
Primary market: A total of 72 super & short-term commercial papers (SCPs) were issued during the week with an aggregate size of RMB66,351 million; 9 commercial papers (CPs) were issued with an aggregate size of RMB8,675 million; 113 medium-term notes (MTNs) were issued with an aggregate size of RMB105,333 million.
Secondary market: The yields on CPs were range-bound and the yields on MTNs rose in choppy trading, with the enterprise bond yields dropping slightly.

V. FCY Interest Rate Market Snapshot
The price of US Treasuries moved lower, with the 10-year US Treasury yield closing the week 5.6 bps higher at 4.239%.
The price of German Government Bonds moved higher, with the 10-year yield closing the week 2.9 bps lower at 2.467%.

VI. Precious Metals Market Snapshot
The gold price fell 0.43% to close the week at USD2,400.79 an ounce.
The silver price fell 4.91% to close the week at USD29.26 an ounce.
The platinum price fell 3.59% to close the week at USD962.50 an ounce.
The palladium price fell 6.51% to close the week at USD 905.97 an ounce.

VII. Crude Oil Market Snapshot
The WTI crude oil futures fell 2.93% for the most-active contracts, closing the week at USD78.60 per barrel.
The Brent crude oil futures fell 3.18% for the most-active contracts, closing the week at USD82.56 per barrel. 

VIII. Base Metals Market Snapshot
The LME 3-month copper price fell 5.94% to close the week at USD9,290.00 per tonne.

IX. Agricultural Products Market Snapshot
The CBOT soybean futures fell 2.72% for the most-active contracts to close the week at 1,035.50 US cents a bushel.

X. Natural Gas Market Snapshot
NYMEX natural gas futures fell 8.17% for the most-active contracts, closing the week at USD2.124 per million British thermal units.

Please see attached.
ICBC Markets Weekly (July 15-19, 2024).pdf