IRCo's DCP still continued rising consecutively and ended the week at 557.86 US cents/kg while rubber futures and physical markets also skyrocketed during the week even though Shanghai and Tokyo rubber futures would retreated slightly on Tuesday due to some profit-taking along an upward trend in current rubber prices.
Global stock markets settled mostly lower on Friday compared with an earlier Friday except for the Dow Jones Industrial Average as investors were still worried about further monetary tightening measures by China's central bank, a fragile Japanese economy, unsettled European sovereign debts, and underperformance of some big financial institutions in 4Q10 like Goldman Sachs Group Inc. A rise in Dow Jones, together with the news on a glut of oil on the world market, depressed crude oil futures on Friday.
The Japanese yen strengthened slightly against the greenback on Friday after the Japanese media reported the Bank of Japan might keep the overnight call rate unchanged at zero to 0.1% with no additional easing steps and might increase its economic growth forecast for the current fiscal year ending in March to around 3.0% from the current projection of 2.1%. In the meantime, The Thai baht and Malaysian ringgit stayed rather unchanged from an earlier Friday whereas the Indonesian rupiah weakened slightly against the greenback as inflows of Western money waned.
(Source: http://www.irco.biz/MarketWise.php?PHPSESSID=6b731d28d2e4d26ba02a3c726a74330d)
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