This entry was posted on Friday, March 5th, 2010 at 8:25 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 higher after three-day decline as yen falls against dollar on reports Bank of Japan may take additional steps to ease monetary policy, crude oil gains on Globex. Tocom rubber futures opened higher on weaker yen, overnight rise in Dow Jones Industrial average, but upward movement gained traction when investors scrambled to cover their shorts on back of recovery in Shanghai rubber futures. Technical chart on the upside, says Tokyo-based commodities brokerage executive, but U.S. markets eyed for cues with jobs data due later today; tips support at Y285/kg, resistance at Y295/kg. Benchmark Tocom August contract settles Y5.7 higher at Y290.3/kg, near intraday high of Y290.9. (HLN)
Source: Dow Jones