TOKYO, March 24 (Reuters) – Benchmark TOCOM rubber futures extended declines on Thursday, dragged down by weaker prices for oil and other commodities.
FUNDAMENTALS
The Tokyo Commodity Exchange rubber contract for August delivery JRUc6 0#2JRU: had fallen 2.6 yen to 174.9 yen per kg by 0015 GMT, after settling down 2.9 yen on Wednesday.
The contract earlier hit a one-week low of 173.3 yen.
MARKET NEWS
The U.S. dollar was quoted around 112.42 yen JPY= , compared with around 112.38 yen on Wednesday afternoon. FRX/
Japan’s benchmark Nikkei stock average .N225 was down 0.4 percent. MKTS/GLOB
London copper fell on Wednesday, pressured by a stronger dollar after hawkish comments from U.S.Federal Reserve officials and as investors locked in recent gains.
Oil prices tumbled 4 percent on Wednesday, with U.S crude settling below the key $40 per barrel mark after a sixth straight week of record highs in stockpiles that traders warned could cut short the market’s two-month long rally. O/R
DATA/EVENTS (GMT)
The following data is expected on Thursday: (Time in GMT)
0700 Germany GfK consumer sentiment Apr
0700 Germany Import prices Feb
0745 France Business climate Mar
1230 U.S. Durable goods orders Feb
1230 U.S. Weekly jobless claims
(Reporting by Osamu Tsukimori; Editing by Joseph Radford)
