Tokyo Commodity Exchange (TOCOM) rubber (13315, -55.00, -0.41%) futures prices on Thursday (October 30) rose to two-month highs since the dollar rose indicating the US economic recovery is in sight.
TOCOM rubber futures contract prices in April rose 4.0 yen on Thursday, reported 203.5 yen / kg (0036GMT), hit the highest level since Aug. 26.
TOCOM rubber futures prices rose 1.1 percent the previous day, by the weakening of the yen and Shanghai boosted prices of rubber.
Federal Reserve (FED) Wednesday announced its withdrawal from QE, because US labor data and the consumer confidence index for the better, boost market outlook for the US economy.
America’s largest tire manufacturer Goodyear Tire Company (GoodyearTire & RubberCompany) report shows that its third-quarter profit was better than expected, due to decline in raw material costs in North America.
On Thursday, the dollar rose against the yen high 108.96, up 0.67% yesterday.
The Nikkei 225 index rose 0.7 percent on Thursday, the yen fell sharply.
Crude oil futures prices closed higher for a second day on Wednesday, as US crude inventories rose more slowly than expected.
As at Beijing at 9:45 am on October 30, Tokyo rubber reported 202.1 yen / kg, up 1.66 percent.
Translated by Google Translator from http://news.cria.org.cn/4/24251.html
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