TOKYO, Nov 13 (Reuters) – Key TOCOM rubber futures stood little changed on Wednesday, as a plunge in oil futures offset the yen weakening to a two-month low against the dollar.
FUNDAMENTALS
* The key Tokyo Commodity Exchange rubber contract for April delivery was changing hands 0.5 yen, or 0.2 percent, higher at 259.1 yen as of 0037 GMT.
The market stood fairly close to a near three-month low of 253.5 yen hit on Nov. 5.
* China’s leaders pledged to let markets play a “decisive” role in the economy as they unveiled a reform agenda for the next decade on Tuesday, looking to secure new drivers of future growth.
The statement issued at the end of the Communist Party’s four-day meeting was short on details and clear reform measures and unlikely to impact markets.
TOCOM Rubber Futures Prices on Wednesday, November 13, 2013 (yen/kilogram)
|
Month |
Last Settlement Price |
Open |
High |
Low |
Current |
Change |
Volume |
|
Nov 2013 |
248.5 |
249.6 |
249.6 |
247.3 |
247.3 |
-1.2 |
11 |
|
Dec 2013 |
250.2 |
250.5 |
251.8 |
248.5 |
250.2 |
+0.0 |
52 |
|
Jan 2014 |
251.9 |
253.2 |
254.1 |
250.7 |
252.2 |
+0.3 |
20 |
|
Feb 2014 |
254.4 |
255.7 |
256.6 |
252.8 |
254.6 |
+0.2 |
198 |
|
Mar 2014 |
256.6 |
257.5 |
259.0 |
254.8 |
257.0 |
+0.4 |
224 |
|
Apr 2014 |
258.6 |
258.7 |
261.2 |
256.5 |
258.4 |
-0.2 |
2,737 |
|
Total |
|
3,242 |
|||||
MARKET NEWS
* The Dow and the S&P 500 ended slightly lower on Tuesday after rising bond yields increased debate over how soon the Federal Reserve would start trimming its stimulus programme.
* The dollar advanced to a two-month high against the yen on Tuesday.
* U.S. oil futures fell more than $2 a barrel on Tuesday, posting a fresh four-and-a-half-month low, amid speculation the Fed could ease up on its monetary stimulus.
* Japan’s Nikkei average was down 0.16 percent in early trade.
DATA EVENTS
* The following data is expected on Wednesday: (Time in GMT)
– 1000 Euro zone industrial production
– 1130 India M3 money supply
– 1200 U.S. weekly mortgage market index
– 1900 U.S. Federal budget (Reporting by Osamu Tsukimori; diting by Joseph Radford)
Source: Reuters
