IRCo's DCP breached 400 US cents/kg on Thursday while other physical rubber prices and rubber futures also settled above 400 US cents/kg as well on Thursday and Friday due mainly to tighter supplies caused by flash floods in natural rubber planting areas in southern Thailand and heavy rain in northern Malaysia during the week.
At the same time, the second quantitative easing (QE) by the U.S. Federal Reserve on Wednesday 3 November stroked global stock and commodity markets to rise on Thursday and Friday, especially crude oil futures, that spurred investors/speculators to scramble for long positions on rubber futures.
It is notable that Thai baht, Indonesian rupiah, and Malaysian ringgit strengthened consecutively against the U.S. dollar during the week on the back of more attractive returns on investments in the East than in the West. The second U.S. QE can keep the U.S. economy moving in the coming quarters, but it will be clueless for the global economic development like some countries have criticized.
(irco.biz)
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