The Morning Jumpstart


  • SPI200 overnight futures up 20 pts to 6084
  • SP500 up 9.21 pts to 2672.63
  • NASDAQ up 55.60 pts to 7265.22
  • FTSE100 closed
  • DAX30 up 128.54 pts to 12948.14
  • GOLD futures down $0.10 to $1314.60 an ounce
  • COPPER futures down $1.30 to $307.25 a pound
  • OIL futures up $0.28 to $70 a barrel
  • CRB Index up 0.38 to 203.64
  • AUDUSD trading at 0.7513
  • EURUSD trading at 1.1922
  • GBPUSD trading at 1.3559
  • USDJPY trading at 109.0900

The US closed higher as the rally in oil lifted energy stocks and a sixth straight gain in Apple lifted tech shares. The DOW was up 94.81 points or 0.39% while the SP500 was up 0.35% and the Nasdaq was up 0.77%. Share Indexes started the session strong but then surrendered gains into the close as traders are bracing for the worst awaiting an announcement fro Trump on the Iran nuclear deal. Earnings continued to be solid with nearly 80% of the SP500 companies that have reported so far beating estimates. In Europe shares gained on the back of some solid earnings and also continued weakness in the Euro.

Cryptocurrencies slightly lower overnight with Bitcoin trading at $9431 down 1.23% while Ethereum is at $754 down 3.46% and Ripple is at $0.83106 down 2.97%.

The USD pushed higher as the rally in oil has traders refocused on inflation.  The EUR and the AUD were weaker for the session as the USD rallied while the GBP managed to gain ground bouncing off support as the UK markets were closed for a bank holiday. Pound traders reversed expectations for a rate hike ahead of the BOEs upcoming meeting Thursday on recent weaker than expected local inflationary data.

Gold was lower thanks to pressure from a rise in the USD and as traders continued to close out short USD positions. Copper gave up some of the previous gains as traders continue to be concerned over US/China trade.  Oil managed to continue the rally as prices kicked up to $70 a barrel on concerns that Trump will pull out of the Iran nuclear deal with an expectations that an announcement is due soon. Buyers also stepped up the pressure as Venezuelan crude oil production declined.

The ASX200 is is expected to open up 15/20 points as the SPI200 struggles to push to new highs. Traders will be focused on the budget release tonight so we may see further range bound trading.




AUD  Retail Sales 11:30am

CNY  Trade Balance Tentative

NZD  Inflation Expectations 1pm

EUR  German Industrial Production and Trade Balance 4pm

USD  Fed Chair Powell Speaks 5:15pm

AUD  Annual Budget Release 7:30pm

USD  President Trump Speaks 4am