This entry was posted on Monday, June 29th, 2009 at 4:12 pm and is filed under Rubber News. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.
[Dow Jones] Tocom RSS3 rubber futures settle lower as investors liquidate long positions to take profits following fall in crude oil prices, stronger yen; erase most gains made late last week. “Speculative long liquidation put (downward) pressure on prices again,” says trader in Japan. Nymex light, sweet crude for August delivery trading 59 cents lower at $68.57/bbl. “Many traders aren”t keen to hold on to their long positions (on Tocom) because of fears that the yen may strengthen further to Y93-Y94 against the dollar,” says Singapore-based broker. USD/JPY hovering around Y95.50. Benchmark Tocom December RSS3 contract settles Y2.1 lower at Y157.5/kg. (SAM)
Source: Dow Jones