IRCo's DCP climbed to 595.22 US cents/kg on Friday along with further rises on Tokyo rubber futures due mainly to persistently firm market fundamentals, rises in crude oil futures, and positive technical charts. However, Shanghai rubber futures retreated in the wake of profit-taking and market concern about China's aggressive policy on monetary tightening.
Asian and European stock markets were mixed on Friday as concern about further monetary tightening by Beijing weighed on investor sentiment, while Wall Street ended the week higher on the back of high earnings of many businesses and optimistically economic forecast by the U.S. Federal Reserve released on Wednesday. It is noticeable that crude oil futures have more room to rise further in the coming days as sound of liberty in many Middle-east countries are rounder than in recent days, and it will rattle global stock and forex markets and commodity exchanges worldwide shortly.
The U.S. dollar weakened against the euro on Friday after a European Central Bank revived expectations of higher interest rates in the euro zone because of rising price pressure whereas the Japanese yen weakened slightly against the greenback in expectations of continuously incoming positive U.S. economic data and optimism about the latest raise in U.S. economic forecast last month. Indonesian rupiah obviously strengthened against the greenback than Thai baht and Malaysian ringgit because of higher inflows of hot money into the country.
(Source: http://www.irco.biz/MarketWise.php)
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