Japan futures log fourth straight weekly loss

G. Samdani Avatar



Japan futures log fourth straight weekly loss

XM does not provide services to residents of the United States of America.


Japan futures log fourth straight weekly loss

RUBBER-Japan futures log fourth straight weekly loss

Updates closing prices, adds analyst comment and details

SINGAPORE, April 26 (Reuters)

  • Japanese rubber futures erased earlier losses to snap a three-day losing streak on Friday, amid higher oil prices and a weak yen, but still logged a weekly loss.

  • The Osaka Exchange (OSE) rubber contract for October delivery JRUc6, 0#2JRU: closed up 3.3 yen, or 1.09%, at 305.4 yen ($1.96) per kg.

  • It lost 1.74% week-on-week to mark its fourth consecutive weekly loss, the longest weekly losing streak since early August 2023.

  • The rubber contract on the Shanghai Futures Exchange (SHFE) for September delivery SNRv1 rose 105 yuan, or 0.75%, to finish at 14,195 yuan ($1,959.39) per metric ton.

  • Oil prices rose after a top U.S. official expressed optimism over economic growth and as supply concerns lingered due to conflicts in the Middle East. O/R

  • Natural rubber often takes direction from oil prices as it competes for market share with synthetic rubber, which is made from crude oil.

  • The yen hit its weakest in three decades against the U.S. dollar after the Bank of Japan left interest rates on hold on Friday. FRX/

  • A weaker currency makes yen-denominated assets more affordable to overseas buyers.

  • SHFE prices are lagging behind, with many traders expressing a bearish tone, as some of them were hoping for the Labour Day stockpiling to be higher, said Farah Miller, CEO of Helixtap Technologies, an independent rubber-focused data company.

  • The U.S. economy grew at its slowest pace in nearly two years in the first quarter amid a surge in imports and a small build-up of unsold goods at businesses.

  • China’s largest auto show opened in Beijing on Thursday.

  • The front-month rubber contract on the Singapore Exchange’s SICOM platform for May delivery STFc1 last traded at 159.8 U.S. cents per kg, up 0.82%.

  • Japan’s financial markets are closed on Monday for a holiday and will re-open on Tuesday, April 30.

($1 = 155.9500 yen)

($1 = 7.2446 yuan)

Reporting by Cassandra Yap; Editing by Rashmi Aich and Janane Venkatraman

For morning and afternoon prices at Thailand's state-run central rubber market, click on RUB-BKK3.
For other physical rubber prices in Thailand, click on RUB-BKK1, RUB-BKK2.
For more details on Indonesian and Malaysian prices click on RURKJK and RUQG.
* Reuters Terminal users can see cash and futures rubber prices by double clicking on the codes in the brackets:

- Tokyo rubber futures -- 0#JRU:
- Shanghai rubber futures -- 0#SNR:
- Singapore rubber futures -- 0#SRS:0#SRU:0#STF:
- Thai rubber futures -- 0#ARU:0#ASR20:
- All rubber news RUB
- Tokyo rubber report RUB/T
- Shanghai rubber report RUB-CN
- Thailand rubber report RUB/TH
- Asian rubber report RUB/AS

For Related News and other topics, double click on one of these codes: SPEED GUIDES RUBBER1, SOFTS/NEWS1

Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.

All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.

Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *