TOKYO, Oct 22 (Reuters) – Key TOCOM rubber futures inched down on Tuesday as U.S. crude oil futures tumbled below $99 a barrel, with investors looking to U.S. payrolls data for clues on the outlook for the world’s biggest economy.
FUNDAMENTALS
* The key Tokyo Commodity Exchange rubber contract for March delivery was changing hands 0.9 yen, or 0.3 percent, lower at 267.5 yen as of 0007 GMT.
* China’s natural rubber imports fell 13.8 percent in September to 179,921 tonnes from a year ago, while synthetic rubber imports dropped 7.8 percent to 112,500 tonnes, official customs figures showed on Monday.
* U.S. crude oil prices on Monday tumbled below $99 a barrel for the first time since July, while the discount versus European Brent hit its widest in six months as diminished Midwest inventories began to grow.
* Traders are eyeing a deluge of data this week as U.S. government agencies catch up after a 16-day shutdown. The U.S. Labor Department will release its closely watched nonfarm payrolls data for September at 8:30 a.m. EDT (1230 GMT).
TOCOM Rubber Futures Prices on Tuesday, October 22, 2013 (yen/kilogram)
|
Month |
Last Settlement Price |
Open |
High |
Low |
Current |
Change |
Volume |
|
Oct 2013 |
253.9 |
252.4 |
255.0 |
252.4 |
255.0 |
+1.1 |
5 |
|
Nov 2013 |
255.6 |
254.8 |
256.0 |
254.8 |
256.0 |
+0.4 |
2 |
|
Dec 2013 |
257.9 |
258.8 |
258.9 |
256.9 |
258.9 |
+1.0 |
29 |
|
Jan 2014 |
261.1 |
260.5 |
261.8 |
260.2 |
261.8 |
+0.7 |
39 |
|
Feb 2014 |
264.7 |
264.8 |
266.5 |
263.9 |
266.5 |
+1.8 |
113 |
|
Mar 2014 |
268.4 |
268.1 |
269.7 |
266.7 |
269.7 |
+1.3 |
1,094 |
|
Total |
|
1,282 |
|||||
MARKET NEWS
* U.S. stocks ended little changed on Monday ahead of Tuesday’s release of U.S. payrolls data.
* The U.S. dollar found its footing in early Asian trading on Tuesday, holding above eight-month lows.
* Japan’s Nikkei stock average was down 0.18 percent in early trade after hitting a three-week high on Monday.
DATA EVENTS
* The following data is expected on Tuesday: (Time in GMT)
– 0200 China House prices
– 1145 U.S. ICSC weekly chain store sales
– 1230 U.S. unemployment rate
– 1230 U.S. nonfarm payrolls
– 1300 U.S. net capital flows
– 1400 U.S. construction spending
– 1400 U.S. Richmond Fed composite index (Reporting by Osamu Tsukimori)
Source: Reuters
