IRCo's DCP rose to 516.86 US cents/kg on Friday on the back of persistent firm market fundamentals and positive sentiment on rubber futures in the region. Cash prices in Thailand, Indonesia, and Malaysia also moved upwards further and stayed above 500 US cents/kg.
Global stock markets were upbeat on Friday after the U.S. Labor Department said the U.S. jobless rates fell from 9.8% last November to 9.4% last December, and the December non-farm payrolls rose by 103,000. Furthermore, an unwavering commitment by U.S. Federal Reserve Chairman Ben Bernanke to maintain price stability and to justify the second quantitative easing program was likely to restore investor confidence in a better global economic recovery.
Confidence in the U.S. economic recovery lent support for the greenback and caused it to strengthen against its rivals across the board on Friday, while there was a market correction on crude oil futures. Many investors paint a picture of an economy that continues to brighten this year.
(Source: http://www.irco.biz/MarketWise.php?PHPSESSID=d5b642bc5c96c6c3898d89c2fed9b762)
No comments:
Post a Comment