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Feb 8: Tocom Rubber Settles Lower; Downside Intact

[Dow Jones] Tocom RSS3 rubber futures settle lower, hitting seven-week low after moving both ways in rangebound trade. Technical selling, short covering keep prices volatile but volumes traded thin, says Tokyo-based trader; adds selling pressure may continue this week due to debt-related concerns in some European countries. Stronger dollar may prompt institutional funds to shift toward currency trading from commodities such as natural rubber. Some investors also liquidating positions ahead of Lunar New Year holidays. Benchmark July rubber contract settles Y1.4 lower at Y266.6/kg after reaching intraday low of Y266.2/kg. (HLN)

Source: Dow Jones

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« Feb 8: Rubber Reaches 7-Week Low as Dollar Gains, Prius Recall Looms
Feb 9: Tocom Rubber Settles Up On Short Covering »

This entry was posted on Monday, February 8th, 2010 at 7:26 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.

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