IRCo's WEEKLY MARKET SNAPSHOT: 23 - 27 August 2010

IRCo's DCP recorded another gain of 7.26 US cents/kg. in another robust week especially in the futures market whilst firm fundamentals continued in the physical market on tight supplies, low stocks and steady demand.

Equity markets were still in the negative except for the last day of the week when sentiments turned around on Federal Reserve Chairman Ben Bernanke's assurance of support for an economic recovery and crude oil prices recovered mid-week from a low of US $ 71.63 per barrel on Tuesday.

Except for the Thai baht, the other regional currencies eased slightly against the greenback. The Japanese yen fell below 85 yen to the dollar on Tuesday and eased a little for the rest of the week but still hovering below the 85 yen level.

(Irco.biz)