The Morning Jumpstart


  • SPI200 (Sep) overnight futures down 17 pts to 6164
  • SP500 down 9.59 pts to 2905.97
  • NASDAQ down 17.10 pts to 7990.37
  • FTSE100 up 3.93 pts to 7511.49
  • DAX30 up 11.23 pts to 12385.89
  • GOLD futures (Dec) down $6.60 to $1198.50 an ounce
  • COPPER futures (Comex Dec) down $0.006 to $2.817 a pound
  • OIL futures (Nymex Nov) down $0.25 to $72.03 a barrel
  • CRB Index down 1.15 pts at 193.97
  • AUDUSD trading at 0.7262
  • EURUSD trading at 1.1749
  • GBPUSD trading at 1.3174
  • USDJPY trading at 112.7200


The US was lower for the session as the Federal Reserve lifted interest rates as expected by 0.25%. The Fed still points to another hike this year and three more next year and said that they see the US enjoying at least three more years of growth. Traders are now assessing where to put risk as yields from cash and bonds are starting to look more attractive as interest rates rise and equity indexes are extended. The DOW was down another 106.93 pts or 0.40% while the broader SP500 was down 0.33% and the Nasdaq ended down 0.21%.  In Europe shares managed to hold onto gains on low volume ahead of the US rate announcement as traders focus on EU growth and news on Brexit.

The USD index managed to finish stronger after rates were hiked and the Fed signaled more interest rate hikes and an end to the ‘accommodative’ policy. The dollar initially found weakness after the release but then rallied once traders had time to digest the statement. The GBP and the EUR were slightly lower although many traders may be positioning themselves for a rally in the EUR as the ECB expect increased inflation. The AUD was higher at the close being earlier supported by a rally in Asian trade.

Gold pushed lower as the USD rallied and traders were quick to lock in gains from recent minor strength. Copper again edged lower as buyers remain on the sidelines and the USD lifted. Oil buyers took a breather as US inventories came out unexpectedly higher to trigger some minor profit taking. Longer term pressure from supply still remains to the upside so bulls may be back soon.

Cryptocurrencies were mixed overnight as Bitcoin holds its ground currently trading at $6472.4 up 1.17%. Ethereum is trading at $214.81 down 1.27% while Ripple is at $0.50876 up 5.91%.

Locally, the ASX200 tried to push higher yesterday from the open but was overtaken by selling pressure throughout the day to push prices lower into the close. The index finished up only 6.4 points as banks continued to put pressure on the index. Energy again supported the action along with resources but we expect to see a different story today as commodities struggle overnight. Advancing stocks outnumbered falling ones by 586 to 565 and 370 ended unchanged.

The ASX200 is expected to open down 15/20 points as the SPI200 follows the US lower overnight being dragged down by weaker commodity indexes.



EUR  German Consumer Climate 4pm

EUR  German CPI Data All Day

EUR  ECB Economic Bulletin 6pm

USD  Core Durable Goods Orders and Final GDP Data 10:30pm

USD  Goods Trade Balance and Unemployment Claims 10:30pm

EUR  ECB President Draghi Speaks 11:30pm

USD  Fed Chair Powell Speaks 6:30am