IRCo's DCP rose throughout the week and stayed at 555.02 US cents/kg on Friday while rubber prices on rubber futures and physical markets in the region also ended the week closer to IRCo's DCP on the back of firm market fundamentals, a weaker yen, rising oil prices, and higher investor confidence.
Global stock markets mostly moved steadily during the week due mainly to the positive news on some improvements in the U.S. employment and higher payrolls last month, but concern about the U.S. government shutdown pulled down Wall Street on Friday.
Crude oil futures still floated above US$100 a barrel during the week in the wake of expansion in uprisings in the Arab world that could interrupt global oil supplies anytime. Furthermore, likely resilience of the global economy will give speculators more chances to push up crude oil futures higher in the near future.
The greenback turned into a defensive position against global currencies, particularly the euro and the yen, after the last gasp agreement between congressional Democrats and Republicans averted a shutdown of the U.S. government late Friday by slashing about US$38 billion from spending for the year until 30 September. We worry that a weaker greenback will spur crude oil futures and other commodity prices that will push up global inflation further.
(Source: http://www.irco.biz/MarketWise.php?PHPSESSID=571d5bd22e7a2d1569c88735eb30c838)
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