The Morning Jumpstart


  • SPI200 (Sep) overnight futures up 6 pts to 6186
  • SP500 down 3.81 pts to 2915.56
  • NASDAQ up 14.23 pts to 8007.47
  • FTSE100 up 49.15 pts to 7507.56
  • DAX30 up 23.84 pts to 12374.66
  • GOLD futures (Dec) up $1.30 to $1205.70 an ounce
  • COPPER futures (Comex Dec) down $0.014 to $2.822 a pound
  • OIL futures (Nymex Nov) down $0.02 to $72.06 a barrel
  • CRB Index up 0.34 pts at 195.12
  • AUDUSD trading at 0.7251
  • EURUSD trading at 1.1767
  • GBPUSD trading at 1.3178
  • USDJPY trading at 112.9600


The US again edged lower on losses in rate sensitive shares ahead of interest rates decision tonight. Consumer confidence in the US increased, showing a resilience during trade issues and a focus on economic growth. Canada and the US still try to work out a deal over NAFTA to continue the trilateral agreement with Mexico before a US imposed Sept 30 deadline. The DOW was again down 69.84 pts or 0.26% while the broader SP500 was down 0.13% and the Nasdaq again managed to end up 0.18%.  In Europe shares were lifted from the open as higher Oil prices supported the energy sector and positive comments from ECBs Draghi on inflation and wage growth gave traders confidence.

The USD index again was mildly lower but holding steady ahead of the US Fed Reserves interest rate meeting where rates are expected to be lifted. Traders have already largely factored in rate rises so we may see some continued pressure on the USD. The GBP and the EUR gained after comments that the ECB see inflationary pressures increasing which put pressure on the USD as traders favoured the currencies. The AUD had a lackluster session to finish flat as traders have no further news from the US/China spat to lift the commodity currency.

Gold was helped higher by a drift lower in the USD. Copper edged lower as buyers remain cautious on the metal and await further direction on tariffs and a potentially escalating trade war. Oils rally stalled overnight although traders still remain bullish for higher prices on expected Iranian sanctions and the reluctance of OPEC and Russia to raise Oil output.

Cryptocurrencies saw more sellers jump into the action as Bitcoin trades at $6386 down 6.71%. Meanwhile Ethereum is at $214.68 down 8.70% and Ripple is trading at $0.46530 down 11.69%.

Locally, the ASX200 managed to stand its ground into the close as sellers gave the index a nudge lower earlier in the session. The Index closed down only 1 point but holds below 6200. Banks again came under fire as regulators slammed the big four for delays in reporting breaches. Energy stocks managed to buoy the index after oil rallied but we may expect to see a pause in the action today as Oil takes a breather ahead of inventories tonight. Miners are looking good as traders search for an investment away from Banks. Declining stocks outnumbered rising ones by 607 to 552 and 349 ended unchanged.

The ASX200 is expected to open up 10 points after the SPI200 had a choppy night as earlier gains were given up into the close of the US session.



NZD  Trade Balance 8:45am

NZD  ANZ Business Confidence 11am

JPY  CPI Data 3pm

USD  New Home Sales 12am

USD  Federal Funds Rate, FOMC Statement and Economic Projections 4am

USD  FOMC Press Conference 4:30am

NZD  Official Cash Rate and RBNZ Rate Statement 7am