TOKYO, Aug 8 (Reuters) – Benchmark TOCOM rubber futures rebounded on Thursday despite the stronger yen, with investor focus on Chinese trade figures due out later in the day for trading cues.
FUNDAMENTALS
* The key Tokyo Commodity Exchange rubber contract for January delivery was trading up 3.5 percent at 255.0 yen per kg at 0257 GMT, after settling 1.4 percent lower on Wednesday.
* The yen was quoted around 96.72 yen to the dollar in early Asian trade on Thursday, after touching a seven-week peak of 96.30 earlier, as investors took recent falls in Japan equities as a sign to buy the currency.
* China’s exports, factory output and retail sales look to have all edged up in July, a Reuters poll showed, showing initial signs of stabilization in the economy as the government takes targeted steps to head off a sharper slump. Trade data will be issued later in the day, with inflation, output, urban investment and retail sales set for Friday.
* Japan’s current account surplus dropped 20.3 percent year-on-year in June, finance ministry data showed on Thursday, as rising energy imports weigh on the country’s balance of payments.
TOCOM Rubber Futures Price on Thursday, August 08, 2013 (yen/kilogram)
|
Month |
Last Settlement Price |
Open |
High |
Low |
Current |
Change |
Volume |
|
Aug 2013 |
245.5 |
245.0 |
255.7 |
245.0 |
253.9 |
+8.4 |
66 |
|
Sep 2013 |
245.2 |
246.3 |
255.5 |
244.9 |
255.5 |
+10.3 |
62 |
|
Oct 2013 |
245.3 |
243.9 |
256.5 |
241.1 |
256.0 |
+10.7 |
120 |
|
Nov 2013 |
245.1 |
243.7 |
256.8 |
243.7 |
255.4 |
+10.3 |
245 |
|
Dec 2013 |
245.7 |
244.6 |
258.0 |
243.9 |
256.6 |
+10.9 |
1,792 |
|
Jan 2014 |
246.4 |
245.1 |
258.8 |
244.6 |
256.8 |
+10.4 |
7,462 |
|
Total |
|
||||||
MARKET NEWS
* Japan’s benchmark Nikkei stock average edged up 0.8 percent in early Tokyo trade.
* The 19-commodity Thomson Reuters-Jefferies CRB index rose marginally on Wednesday as cocoa and coffee prices jumped and copper and gold steadied after recent losses.
DATA EVENTS
* The following data is expected on Thursday: (Time in GMT)
DATA/EVENTS (GMT)
China July Exports
China July Imports
China July trade balance
1430 U.S.
EIA natural gas stocks
(Reporting by James Topham; Editing by Richard Pullin)
Source: Reuters
