Core Viewpoint - The Chinese Yuan (CNY) has strengthened against the US Dollar (USD), reaching a one-year high as the USD index declines, with the onshore CNY/USD exchange rate breaking key psychological levels [1][3]. Exchange Rate Movements - On November 13, the CNY/USD exchange rate rose to 7.0959, an increase of 213 basis points from the previous trading day, marking the highest level since mid-October 2024 [1]. - The offshore CNY/USD rate also surpassed the 7.10 mark, reaching a monthly high of 7.09400 [2]. USD Index Performance - The USD index reversed its upward trend, dropping to a low of 99.2914, reflecting a decline of over 0.15% [3]. Monetary Policy Insights - The People's Bank of China (PBOC) emphasized maintaining a managed floating exchange rate system based on market supply and demand, aiming for stability in the CNY exchange rate [3]. Analyst Predictions - Analysts predict that the CNY will remain strong in the short term, with a focus on USD trends and the PBOC's intervention in the CNY midpoint rate. The CNY is expected to maintain a stable trajectory with limited volatility against the USD, with a low likelihood of breaking the 7.0 level before year-end [4].

Group 1 - The onshore RMB against the USD opened slightly lower at 7.1267, compared to the previous trading day's close of 7.1246 [1] - The offshore RMB against the USD was reported at 7.13003 as of 9:30 AM [1] - The RMB central parity rate against the USD was set at 7.1048, an increase of 54 basis points from the previous trading day [2] Group 2 - The USD index fluctuated above the 99 mark, reported at 99.3578 as of 9:30 AM [3] - According to a report from Industrial Bank Research, the USD index rebounded as expected after the Federal Reserve's interest rate cut, aligning with historical patterns following preventive rate cuts [3] - There remains significant potential for further USD strength, contingent on economic data, particularly employment figures [3]

Market Performance - The three major U.S. stock indices closed mixed, with the Dow Jones down 0.22%, the S&P 500 up 0.01%, and the Nasdaq up 0.32% [1] - Major tech stocks mostly rose, with Amazon, Meta, and Tesla increasing by less than 1%, Nvidia rising over 3%, and Broadcom up over 1% [1] - Popular Chinese concept stocks mostly increased, with NIO up over 6%, Alibaba, Xpeng Motors, and Kingsoft up over 3%, and JD.com up over 2% [1] European Market - All three major European stock indices closed higher, with the German DAX index up 0.77% at 24276.48 points, reaching a historical high, the French CAC40 index up 0.53% at 7804.67 points, and the UK FTSE 100 index up 0.16% at 8801.29 points [1] Commodity Prices - International oil prices weakened, with the main U.S. oil contract down 1.06% at $62.74 per barrel and the main Brent crude contract down 1.19% at $64.85 per barrel [1] - International precious metal futures generally rose, with COMEX gold futures up 0.60% at $3397.40 per ounce and COMEX silver futures up 0.06% at $34.66 per ounce [1] Currency and Bond Market - The U.S. dollar index fell by 0.47% to 98.81, while the offshore RMB against the U.S. dollar closed up 207 basis points at 7.1717 [1] - U.S. Treasury yields collectively fell, with the 2-year yield down 8.25 basis points at 3.862%, the 3-year yield down 8.51 basis points at 3.826%, the 5-year yield down 9.75 basis points at 3.923%, the 10-year yield down 9.85 basis points at 4.355%, and the 30-year yield down 10.76 basis points at 4.877% [1] - European bond yields were mixed, with the UK 10-year yield down 3.1 basis points at 4.604%, the French 10-year yield up 1.3 basis points at 3.200%, the German 10-year yield up 0.1 basis points at 2.524%, the Italian 10-year yield down 0.3 basis points at 3.489%, and the Spanish 10-year yield up 1 basis point at 3.115% [1]