What are the effects of interest rates and exchange rates on the futures market?
Interest rates mainly affect interest rate futures, such as treasury bonds futures, CICC 5-year treasury bonds and 10-year treasury bonds futures. If the short-term market interest rate is high, the face value of the national debt will drop, and if the short-term market interest rate is low, the face value of the national debt will rise. The exchange rate mainly affects the commodities that need to be imported. The appreciation of RMB is beneficial to import and the import cost is low. The corresponding domestic futures prices will fall, while the depreciation of RMB is unfavorable to imports, and the import cost is high, so the corresponding domestic futures prices will rise.