TOKYO, July 8 (Reuters) – Benchmark Tokyo rubber futures edged down on Tuesday, extending a 2 percent fall in the previous session, as investors awaited Chinese data later in the day for further indications on the state of the world’s second-biggest economy.
FUNDAMENTALS
* The Tokyo Commodity Exchange (TOCOM) rubber contract for December delivery was trading down 0.3 percent at 239.4 yen per kg as of 0043 GMT.
The futures contract fell 2 percent to settle at a one-week low on Monday, as fears about China’s plans to choke off credit deepened concerns about global economic growth sapping buying demand.
* Chinese consumer inflation is expected to rise to 2.5 percent for June, according to a Reuters poll, which is well below the Chinese central bank’s 3.5 percent target for 2013.
TOCOM Rubber Futures Price on Tuesday, July 09, 2013 (yen/kilogram)
|
Month |
Last Settlement Price |
Open |
High |
Low |
Current |
Change |
Volume |
|
Jul 2013 |
237.9 |
235.5 |
238.2 |
235.5 |
238.2 |
+0.3 |
7 |
|
Aug 2013 |
237.0 |
237.1 |
239.3 |
237.0 |
238.8 |
+1.8 |
35 |
|
Sep 2013 |
238.4 |
238.5 |
240.3 |
237.0 |
239.3 |
+0.9 |
81 |
|
Oct 2013 |
238.3 |
239.1 |
240.0 |
236.6 |
239.4 |
+1.1 |
106 |
|
Nov 2013 |
239.5 |
239.6 |
240.6 |
237.0 |
240.2 |
+0.7 |
598 |
|
Dec 2013 |
240.1 |
240.0 |
241.0 |
237.0 |
240.0 |
-0.1 |
3,318 |
|
Total |
|
||||||
MARKET NEWS
* The yen edged up against the dollar early on Tuesday as investors took pause following the greenback’s recent rally, but the dollar’s broad uptrend is seen intact as the market tries to position for when the U.S. central bank starts to slow its stimulus.
* The Nikkei stock average rose 0.9 percent in early trade on Tuesday, tracking gains in U.S. and European bourses as the U.S. corporate results season bolsters investor optimism after last week’s solid U.S. employment growth data.
* The 19-commodity Thomson Reuters-Jefferies CRB index rose nearly 0.7 percent on Monday to hit its highest level in 2-1/2 weeks as the dollar decline supported gold and copper, while corn and wheat prices gained on expectations of lower supplies.
DATA EVENTS
* The following data is expected on Monday: (Time in GMT)
DATA/EVENTS (GMT)
0130 China CPI
0130 China PPI
1130 U.S. NFIB business optimism index
1145 U.S. ICSC weekly chain store sales
1400 U.S. Employment trends
2030 U.S. API weekly crude stocks (Reporting by James Topham; Editing by Ed Davies)
Source: Reuters
