26.3 C
New York
Thursday, July 7, 2022

Tokyo rubber futures dip on strong yen in thin trade (Aug 6)

TOKYO, Aug 6 (Reuters) – Benchmark TOCOM rubber futures fell for a second straight day as the stronger yen continued to pressure the soft commodity contract, with trading volumes thin during the summer lull.

FUNDAMENTALS

* The key Tokyo Commodity Exchange rubber contract for January delivery was trading down 0.4 percent at 244.8 yen per kg at 0024 GMT, after settling 0.9 percent lower on Monday.

* The yen was quoted around 98.05 yen to the dollar in early Asian trade on Tuesday, adding to overnight gains as investors unwind bearish yen bets in thin trade.

* Business activity across emerging economies shrank for the first time in over four years in July, driven mainly by a drop in manufacturing while services activity stagnated, an HSBC survey showed on Tuesday.

TOCOM Rubber Futures Price on Tuesday, August 06, 2013 (yen/kilogram)

Month

Last Settlement Price

Open

High

Low

Current

Change

Volume

Aug 2013

245.5

242.5

243.6

242.5

243.0

-2.5

6

Sep 2013

244.0

245.5

245.5

242.5

243.0

-1.0

7

Oct 2013

244.0

245.0

245.0

242.5

242.5

-1.5

30

Nov 2013

244.2

245.2

245.3

242.6

242.6

-1.6

53

Dec 2013

245.2

245.2

246.2

242.8

243.2

-2.0

1,005

Jan 2014

245.8

245.6

247.3

243.4

244.0

-1.8

2,757

Total

 

3,858

MARKET NEWS

* Japan’s benchmark Nikkei stock average dropped 1.1 percent amid weaker sentiment for Japanese exporters as the stronger yen hurts their earnings when overseas profits are repatriated.

* The 19-commodity Thomson Reuters-Jefferies CRB index edged down 0.2 percent on Monday as commodities broadly fell.

DATA EVENTS

* The following data is expected on Tuesday: (Time in GMT)

0800 Italy Industrial output

0900 Italy Q2 GDP

1000 Germany Industrial orders

1145 U.S. ICSC weekly chain store sales

1230 U.S. International trade

1400 U.S. U.S. IBD/TIPP consumer sentiment

2030 U.S. API weekly crude stocks

(Reporting by James Topham; Editing by Stephen Coates)

Source: Reuters

Related Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Stay Connected

11,296FansLike
12,893FollowersFollow
751FollowersFollow
- Advertisement -

Latest Articles

Popular Articles