The Price of Natural Rubber Futures Update

The price of natural rubber futures trading Wednesday afternoon on the Tocom(03/02) observed moving down. Tocom rubber price triggered a weakening of the strengthening Yen and crude oil prices decline in the Asian session.

Yen Japan observed experience increased 0.32% currently reside at the level of 119.58 per u.s. dollar. The rise in the exchange rate of the yen makes Japan commodity pricestraded in the currency is becoming relatively more expensive for buyers abroad. The impact of these commodities demand will decline.

Meanwhile, crude oil prices extend a decline in Asian trading session on Wednesday(03/02), eroded U.S. crude oil inventories surge last week more than half a billionbarrels and Iran plan to increase exports in March. Milder weather forecasts for eightweeks last November-U.S. March a warm winter has also reduced demandexpectations.

Crude oil price of West Texas Intermediate (WTI), down 27 cents to $ 29.61, after ending the previous session down $ 1.74, or 5.5 percent. While the price of Brent crude oil for April delivery declined 25 cents to $ 32.47 per barrel at 0204 GMT, after down $ 1.52, or 4.4 per cent previously.

In trading today, the price of rubber futures contract for most active commodities exchange in Tokyo, namely contract July 2016 observed closed weakening of yen into 3.4-153.6 yen per kilogram, down from the previous closing on 157.0 yen per kilogram.

Forex chair estimates that the price movements of futures trade on the Tocom rubbernext is still potentially a natural pressure is affected by movements in the exchange rate of the yen Japan and the price of crude oil. The second indicator is the most influential factor against the natural rubber price movement Tocom. With thecontinued rise in global oversupply worries to crude oil price making rubber Tocompotentially depressed.

The price of commodities futures exchange Tocom rubber will test the Support level at 149.00 144.00 yen and yen. The price will meet Resistance at level 159.00 164.00 yen and if the price turned into positive territory.