TOKYO, Aug 29 (Reuters) – Benchmark TOCOM rubber futures extended gains on Monday on the back of a weaker yen against the dollar.
FUNDAMENTALS
The Tokyo Commodity Exchange rubber contract for February delivery JRUc6 0#2JRU: had risen 1 yen to 151.6 yen per kg by 0042 GMT, after settling up 1.1 yen on Friday.
MARKET NEWS
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The U.S. dollar was quoted around 102.03 yen JPY= , near its best since Aug. 12, after Federal Reserve Chair Janet Yellen’s upbeat comments on the U.S.economy and as traders raised their bets on an interest rate increase.
Japan’s benchmark Nikkei stock average .N225 was up 2.3 percent. MKTS/GLOB
Oil prices fell early on Monday as output from Iraq rose and as Iran said it would only cooperate in upcoming producer talks to freeze output if fellow exporters recognised its right to fully regain market share.
DATA/EVENTS (GMT)
The following data is expected on Monday: (Time in GMT)
1230 U.S. Personal Consumption July
1430 U.S. Dallas Fed Mfg Bus Idx Aug
(Reporting by Osamu Tsukimori; Editing by Joseph Radford)
