IRCo's DCP fell slightly to 337.71 US cents/kg on Friday from 338.20 US cents/kg on Monday or down 0.49 US cent whereas physical natural rubber (NR) prices in Thailand, Indonesia, and Malaysia also softened slightly in the wake of the fall of rubber futures on Tokyo Commodity Exchange (TOCOM) caused by the consecutive fall in crude oil futures, the fluctuation in the strengthening yen against the greenback, and the news on easing NR supply in producing countries during the week that NR supply actually remained tight as scattered rains across the region still disrupted rubber tapping in many NR producing countries, especially in Southern Thailand.
The global stock market started with the upbeat news on strong Chinese economic data and new Basel rules on Monday that gave hope to consumers and investors and ended with some gains in Asia and the U.S. but Europe due to concern over Ireland’s economy on Friday. The year-to-date returns for the major bellwether stocks, i.e. Dow Jones Index, Nikkei 225, and Shanghai Composite were 1.6%, -8.7%, and -20.7% as of 17 September 2010.
The global forex market also gained from better-than-expected Chinese economic data and the new agreement on global banking rules on Monday. However, currency volatility is expected to persist in the coming week due to concern over high Western sovereign debts, the fragile U.S. economy, the Japanese economic stagnation with deflation and the strong yen, and the strengthening regional currency against the greenback.
(irco.biz)
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