Market and product

FUNDAMENTAL

* The benchmark rubber contract on the Tokyo Commodity Exchange <0#JRU:> for February 1.8 yen to 368.1 yen ($4.75) per kg at 0032 GMT. Trading volume stood at 943 lots, well below normal volume of nearly 10,000 lots.

* The dollar barely reacted in Asia to President Barack Obama’s jobs package on Friday, while the euro struggled to make any friends after the European Central Bank (ECB) seemed in no rush to resume its tightening policy.

* Crude oil futures fell in choppy trading on Thursday, following Wall Street lower after the U.S. Federal Reserve Chief gave a speech that lacked new steps to spur economic growth, and as the dollar rose sharply.

* Many more Americans than expected filed new claims for jobless benefits, stoking worries about the economy.

* Greece’s economy minister said on Thursday he expected the country’s budget deficit to be higher than the highly indebted country had agreed with international creditors.

MARKET NEWS

* Volkswagen AG said it would delay a merger with Porsche Automobil Holding SE beyond 2011 because of legal issues and examine other ways of creating an integrated auto group.

* President Barack Obama proposed a $447 billion jobs plan to help boost the U.S. economy, challenging Congress to pass legislation made up largely of tax cuts for workers and businesses.

* U.S. stocks closed sharply lower on Thursday after Federal Reserve Chairman Ben Bernanke gave no indications of new stimulus measures to boost the flagging economy in a keenly awaited speech.

* The Nikkei benchmark edged lower on Friday and is expected to stay in a narrow range as a keenly awaited speech from U.S. President Barack Obama was almost in line with market expectations.

DATA EVENTS

* The following data is expected on Friday:

- N/A Japan cabinet meeting

- 0500 GMT Japan consumer confidence

- 0600 GMT Germany CPI final for August

- N/A G7 finance chiefs meeting

- 1400 GMT U.S. wholesale inventories for July