TOKYO, Sept 15 (Reuters) – Benchmark TOCOM rubber futures were steady on Thursday after two days of gains, as the market was held back by an extended decline in oil prices and a stronger yen against the dollar.
FUNDAMENTALS
The Tokyo Commodity Exchange rubber contract for February delivery JRUc6 0#2JRU: eased 0.2 yen to 157.6 yen per kg by 0044 GMT, after settling up 3.9 yen on Wednesday.
Chinese markets are closed on Thursday and Friday for the Mid-Autumn Festival.
MARKET NEWS
The U.S.dollar eased from an eight-day high against the yen on Wednesday after scepticism grew that the Bank of Japan would intensify its stimulative monetary policies next week.
USD/ The U.S. dollar was quoted around 102.48 yen JPY= , compared with around 102.83 yen on Wednesday afternoon.
Japan’s benchmark Nikkei stock average .N225 was down 0.8 percent. MKTS/GLOB
Oil prices fell about 3 percent for a second straight day on Wednesday, after data showing large weekly builds in U.S.petroleum products offset a surprise draw in crude stockpiles.
DATA/EVENTS (GMT)
The following data is expected on Thursday: (Time in GMT)
- 0830 Britain Retail sales Aug
- 0900 Euro zone Eurostat trade Jul
- 0900 Euro zone Inflation final Aug
- 1100 Bank of England announces interest rate decision
- 1230 U.S. Current account Q2
- 1230 U.S. New York Fed manufacturing Sep
- 1230 U.S. Weekly jobless claims
- 1230 U.S. Philly Fed business index Sep
- 1230 U.S. Retail sales Aug
- 1315 U.S. Industrial output Aug
(Reporting by Osamu Tsukimori; Editing by Ed Davies)
