TOKYO, Dec 27 (Reuters) – Tokyo rubber futures gained for a second day on Friday in thin year-end trade as the yen fell to five-year lows against the U.S. dollar, but the benchmark contract looked set for a weekly drop of about 2 percent.
FUNDAMENTALS
* The key Tokyo Commodity Exchange (TOCOM) rubber contract for June delivery was up 1.3 yen, or 0.47 percent, at 276.1 yen ($2.64) per kg as of 0049 GMT. It climbed 2.5 yen to end at 274.8 yen per kg on Thursday.
* The number of Americans filing new claims for unemployment benefits fell last week to the lowest level in nearly a month, a hopeful sign for the labour market, while holiday retail sales rose in November and December.
* The government of key rubber producer Thailand on Thursday rejected a call from the Election Commission to postpone a February vote after clashes between police and anti-government protesters in which a policeman was killed and nearly 100 people were hurt.
* Japanese industrial output rose 0.1 percent in November to mark the third straight month of gains, government data showed on Friday, underscoring a steady economic recovery.
TOCOM Rubber Futures Prices on Friday, December 27, 2013 (yen/kilogram)
|
Month |
Last Settlement Price |
Open |
High |
Low |
Current |
Change |
Volume |
|
Jan 2014 |
276.6 |
276.6 |
276.9 |
275.6 |
276.4 |
-0.2 |
214 |
|
Feb 2014 |
272.8 |
272.1 |
274.5 |
272.1 |
274.5 |
+1.7 |
52 |
|
Mar 2014 |
271.9 |
272.1 |
274.4 |
271.8 |
273.6 |
+1.7 |
157 |
|
Apr 2014 |
272.5 |
273.0 |
274.8 |
272.8 |
273.7 |
+1.2 |
157 |
|
May 2014 |
273.6 |
274.2 |
276.0 |
274.0 |
275.5 |
+1.9 |
544 |
|
Jun 2014 |
274.8 |
275.4 |
277.4 |
275.0 |
276.5 |
+1.7 |
1,415 |
|
Total |
|
2,539 |
|||||
MARKET NEWS
* The yen hovered near five-year troughs against the dollar and euro on Friday, having fallen prey to a renewed appetite for risk which lifted Wall Street to record highs and weighed on the low yielding currency.
* Japan’s benchmark Nikkei stock average was down about 0.5 percent as of 0058 GMT.
* Crude oil futures ended higher on Thursday, boosted by demand for refined products after industry data earlier this week showed a steep decline in gasoline and distillate inventories.
DATA EVENTS
* The following data is expected on Friday:
1530 – U.S. ECRI WEEKLY (Reporting by Yuka Obayashi; Editing by Joseph Radford)
Source: Reuters
