RUBBER-Tokyo futures dip, but headed for weekly gain of over 4 pct

Reuters

TOKYO, Sept 20 (Reuters) - Tokyo rubber futures gave backsome of previous day's gains on Friday, but the contract wasstill headed for a weekly rise of more than 4 percent after thesurprise decision by the Federal Reserve to maintain its hugebond-buying stimulus supported commodity markets.

FUNDAMENTALS

* The benchmark Tokyo Commodity Exchange (TOCOM) rubbercontract for February delivery was down 0.6percent at 283.5 yen per kg by 0028 GMT, after settling 2.7percent higher on Thursday.

At the current level, the contract was poised for a weeklyrise of 4.1 percent, after slumping 3.8 percent in the week toSept 13.

* China bought some rubber physical cargoes from Thailandand Indonesia earlier this week and could be looking for more asthe market was filled with speculation the world's largestconsumer could stockpile again, dealers said on Thursday.

* Volkswagen denied a report on Thursday thatEurope's biggest carmaker was at risk of missing its financialtargets, saying it was fully committed to itsoutlook.

* For the top stories in rubber market and other news, click or

MARKET NEWS

* The U.S. dollar was quoted around 99.47 yen inAsia, well off Wednesday's low of 97.76 yen, as the greenbackerased all of its losses from the surprise decision by the U.S.central bank to keep pouring money into the economy.

* Japan's benchmark Nikkei stock average edged up0.3 percent in early Friday trade, as the weaker yen supportedexporters, the index's main component.

* The 19-commodity Thomson Reuters-Jefferies CRB index rose 0.3 percent on Thursday as gains in gold andseveral agricultural commodities were limited by tumbling crudeoil prices.

DATA EVENTS

* The following data is expected on Friday: (Time in GMT)

0800 Italy Industrial orders

1400 Euro zone Consumer confidence

1930 U.S.

CFTC commitment of traders data (Reporting by James Topham; Editing by Chris Gallagher)

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