Market news in brief (Oct. 23, 2015)
Oil
- Oil prices extended gains into a second day in Asian trade, finding support from brighter economic data and a global stock market rally after the ECB signalled its willingness to launch more stimulus measures.
- Oil futures lost more ground after data from Baker Hughes showed that the number of active U.S. oil-drilling rigs fell by 1 to 594 as of Friday.
Gold
- Gold ticked up from its lowest in over a week but was poised to snap a two-week winning streak due to a stronger dollar and robust data that boosted expectations for a U.S. rate rise this year.
- Gold futures settled with a loss on Friday, as strength in the U.S. dollar sent prices for the metal to their lowest level in two weeks.
Currencies
- The euro skidded to two-month lows against the dollar, a day after the ECB hinted at more stimulus in December, tipping the common currency into one of its biggest falls in recent years.
- International Monetary Fund staff are set to give the all-clear for China's yuan to be included in the lender's benchmark currency basket, laying the groundwork for a favorable decision by policymakers, people familiar with the discussions said on Sunday
Rubber
- Taiwan's Kenda Rubber Industrial Co Ltd had received an investment certificate, a key green light from the Vietnamese government, to invest $160 million in a tyre plant in the country, the Vietnam Investment Review newspaper reported, citing a Vietnamese government official.
- Benchmark TOCOM rubber futures fell to a three-week low on Thursday, extending losses into fifth session, as persistent concerns over oversupply and slowing growth in top buyer China continued to weigh on the market sentiment.
Asian Rubber Futures
Oct 22 Change from previous close
Tocom Mar RSS3 Y166.5/Kg Down Y2.4 Kg
Shanghai Jan SCR5 CNY11,130/ton Down CNY85
Thai May RSS3 THB49.25/Kg Up THB0.45
Sicom Nov RSS3 US 127.6 cents/kg Down US0.1 cents
Sicom Nov TSR20 US 124.9 cents/kg Up US0.9 cents
Asian Physical Rubber
Grade Shipment Oct 22 Oct 21
RSS3 Nov/Dec 128-130 128-130
STR20 Nov/Dec 129-130 129-130
SIR20 Nov/Dec 124-124 124-124
SMR20 Nov/Dec 127-128 127-128
SVR3L Nov 131 131
USS Nov THB40.11 - THB40.35 THB40.33-THB41.50
GFC team
