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Tuesday, January 25, 2022

Tokyo rubber futures inch lower from six-month high

TOKYO, Nov 8 (Reuters) – Benchmark TOCOM rubber futures inched lower on Tuesday due to profit-taking after the dollar’s surge pushed the market to a six-month high a day earlier.

FUNDAMENTALS

The Tokyo Commodity Exchange rubber contract for April delivery JRUc6 0#2JRU: fell 0.4 yen to 186.7 yen per kg by 0001 GMT, after settling up 9.3 yen on Monday.

MARKET NEWS

The U.S. dollar continued to be firm and was quoted around 104.49 yen JPY= , compared with around 104.26 yen on Monday afternoon, after the FBI decided that U.S.Democratic presidential nominee Hillary Clinton will not face criminal charges.

Japan’s benchmark Nikkei stock average .N225 was up 0.4 percent at the open. MKTS/GLOB

Oil prices settled more than 1 percent higher on Monday,supported by news that U.S.Democratic presidential candidate Hillary Clinton will not face charges over her emails.

DATA/EVENTS (GMT)

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

n/a China Trade balance Oct

0700 Germany Industrial output Sept

0700 Germany Trade balance Sept

0745 France Current account Sept

0745 France Trade balance Sept

0930 Britain Industrial output Sept

1100 U.S. NFIB business optimism Oct

No exact timing for China trade data

(Reporting by Osamu Tsukimori; Editing by Richard Pullin)

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