The Morning Jumpstart


  • SPI200 overnight futures up 27 pts to 6158
  • SP500 up 15.26 pts to 2904.18
  • NASDAQ up 59.48 pts to 8013.71
  • FTSE100 down 31.79 pts to 7281.57
  • DAX30 up 23.25 pts to 12055.55
  • GOLD futures (Dec) down $4.50 to $1206.40 an ounce
  • COPPER futures (Comex Dec) unchanged at $2.676 a pound
  • OIL futures (Nymex Oct) down $1.56 to $68.81 a barrel
  • CRB Index down 1.95 pts at 191.41
  • AUDUSD trading at 0.7192
  • EURUSD trading at 1.1691
  • GBPUSD trading at 1.3180
  • USDJPY trading at 111.9200


The US was higher thanks to a rebound in Apple which led a bounce in Tech shares. Trade concerns eased after China welcomed new talks with the US although the timing of the talks is still unknown. Negotiations with Canada continue as the Canadian PM says he would like a NAFTA deal soon but still unsure of the deadline. The DOW was up 147.07 pts or 0.57% while the broader SP500 was up 0.53% and the Nasdaq led the charge ending up 0.75%. In Europe shares were also buoyed by renewed trade talks between China and the US while the FTSE100 was hampered by Brexit as the index closed lower. Both the BOE and ECB kept interest rates on hold as expected.

Turkey’s central bank finally decided to raise interest rates to 24% ignoring a verbal bashing from President Erdogan. The currency spiked higher as bulls dived in for a bargain and European Banks rallied on the news.

The USD index came under pressure overnight as data released on Consumer Prices came in less than expected easing concerns that inflation is accelerating. The AUD, the GBP and the EUR were all higher with the AUD getting an extra push from strong employment data out during the day.

Gold gave up recent gains even as the USD came under pressure. The general risk off tone and buying into equities did not help the precious metal which is usually seen as a solid safe haven trade. Copper was unchanged as traders await news on US/China trade talks before supporting the metal. Oil gave up some of the recent gains on a jump in OPEC output leaving traders scratching their heads.

Cryptocurrencies had a big night with bulls jumping back on the bandwagon. Bitcoin is currently trading at $6463.8 up 2.32% while Ethereum is at $205.16 up 11.86% and Ripple is trading at $0.27905 up 4.67%.

Locally, the ASX200 come under pressure from the open yesterday and the selling did not stop until the close. Price is heading back down to Fridays low around 6100 so traders will be eager to see if buyers can make a stand to defend the lows. Financials came under pressure from the latest damaging revelations into the sector during the long standing inquiry. Employment numbers came out stronger than expected to give the Aussie Dollar a boost. Advancing stocks outnumbered falling ones by 585 to 571 and 362 ended unchanged.

The ASX200 is expected to open up 29 points as the SPI200 rally through the European and US sessions. The ASX200 should finish the week on a positive note to hold above the 6100 lows.



NZD  Business NZ Manufacturing Index 8:30am

CNY Fixed Asset Investment, Industrial Production and Retail Sales 12pm

EUR  Trade Balance 7pm

GBP  BOE Gov Carney Speaks 8pm

USD  Retail Sales Data and Import Prices 10:30pm

USD  Industrial Production 11:15pm

USD  Consumer Sentiment 12am