TOKYO, Aug 5 (Reuters) – Key TOCOM rubber futures fell around 2 percent on Monday, as the yen strengthened against the dollar following weaker-than-forecast U.S. jobs data.
FUNDAMENTALS
* The key Tokyo Commodity Exchange rubber contract for January delivery was changing hands 5.6 yen lower at 242.5 yen as of 0016 GMT. The benchmark contract fell by as much as 2.8 percent to 241.1 yen, the lowest since August 1.
* U.S. employers slowed their pace of hiring in July, with job growth of 162,000, the Labor Department said on Friday. That was below the median forecast in a Reuters poll of 184,000.
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* India’s natural rubber production has been hit by heavy rains in the southern state of Kerala, which accounts for more than 90 percent of total output. Production in June fell 39 percent from a year ago to 38,000 tonnes, while July output may have fallen by a third, said George Valy, president of the Indian Rubber Dealers’ Federation.
* Rubber inventories in warehouses monitored by the Shanghai Futures Exchange unchanged, the exchange said on Friday.
TOCOM Rubber Futures Price on Monday, August 05, 2013 (yen/kilogram)
|
Month |
Last Settlement Price |
Open |
High |
Low |
Close |
Change |
Volume |
|
Aug 2013 |
249.9 |
245.5 |
246.4 |
245.5 |
245.5 |
-4.4 |
9 |
|
Sep 2013 |
246.0 |
246.8 |
246.8 |
241.4 |
244.0 |
-2.0 |
34 |
|
Oct 2013 |
244.6 |
245.0 |
247.1 |
240.5 |
244.0 |
-0.6 |
88 |
|
Nov 2013 |
246.0 |
245.5 |
247.0 |
240.5 |
244.2 |
-1.8 |
194 |
|
Dec 2013 |
247.2 |
246.7 |
248.5 |
240.2 |
245.2 |
-2.0 |
760 |
|
Jan 2014 |
248.1 |
247.8 |
249.4 |
241.1 |
245.5 |
-2.3 |
5,736 |
|
Total |
|
6,821 |
|||||
MARKET NEWS
* The Dow industrials and S&P 500 ended at record highs for a second day on Friday, posting modest gains despite a mixed employment report that showed U.S. hiring slowed in July.
* U.S. crude futures slipped in early Asian trade on Monday, declining for a second day as weak U.S. jobs data revived worries about demand growth in the world’s biggest oil consumer.
* Japan’s benchmark Nikkei average opened down 1.02 percent at 14,318.21 on Monday, while the broader Topix shed 0.77 percent to 1,186.91.
DATA EVENTS
* The following data is expected on Monday: (Time in GMT)
– 0753 Germany Services PMI
– 0758 Euro zone Markit Services PMI
– 0830 Euro zone Sentix index
– 0900 Euro zone Retail sales
– 1400 U.S. ISM Non-manufacturing PMI
– 1400 U.S. Employment trend index (Reporting by Osamu Tsukimori; Editing by Richard Pullin)
Source: Reuters
