The Morning Jumpstart


  • SPI200 (Sep) overnight futures down 23 pts to 6171
  • SP500 down 0.02 pts to 2913.98
  • NASDAQ up 4.39 pts to 8046.35
  • FTSE100 down 35.24 pts to 7510.20
  • DAX30 down 188.86 pts to 12246.73
  • GOLD futures (Dec) up $8.80 to $1196.20 an ounce
  • COPPER futures (Comex Dec) up $0.020 to $2.803 a pound
  • OIL futures (Nymex Nov) up $1.13 to $73.25 a barrel
  • CRB Index up 0.99 pts at 195.16
  • AUDUSD trading at 0.7223
  • EURUSD trading at 1.1609
  • GBPUSD trading at 1.3033
  • USDJPY trading at 113.7100


The US was flat Friday to end the week as buyers gave up earlier gains into the close. US Bond yields were lower as Italian debt fears support the USD as a safe haven investment. The DOW was up 18.38 pts or 0.07% while the broader SP500 was down 0.02% and the Nasdaq ended up only 0.05%.  In Europe share Indexes were dragged lower on Italian Budget woes as traders signal further debt problems for Italy as they become more nervous that the Italian Governments spending plans will boost already high debt levels.

China has said they will cut import tariffs textile products and metals effective Nov 1st in a bid to fulfil pledges to further open their consumer market. Research finds that Britain’s decision to leave the EU has cost the government 500 million pounds a week.

The USD index rallied being buoyed by safe haven buying and also as the Euro finds selling to drag the dollar higher. The GBP and the AUD were lower on the back of USD buying while the EUR was hit hardest on Italian debt fears. Traders were concerned the Italian Government are not serious about tackling the huge debt load which may lead to further pressure on Italian Government Bonds.

Gold was higher after falling the previous session on USD strength and as safe haven buyers nibbled at the precious metal. Copper also edged higher as sellers took a breather on a lack of negative news on the trade front between the US and China and ahead of a week long national holiday in China. Oil buyers were back in to the action to push prices higher on an expected drop in supply.

Cryptocurrencies are mixed as Bitcoin trades at $6589.3 down 0.16% while Ethereum is at $230.35 down 0.95% and Ripple is at $0.57874 up 0.44%.

Locally, the ASX200 ended the session Friday up 26.4 points after spiking on the back of an interim report from the inquiry into the country’s financial industry. Banks took off just after 2pm to drag the index higher but traders could not hold onto the gains into the close. The report said the the big banks and wealth managers pursued profit above all else and viewed regulatory compliance as “a cost of doing business” rather than a guide to proper conduct. The report fell short of proposals for specific legislative reforms which the market took as a ‘do nothing’ approach and piled into the Banks. Advancing stocks outnumbered falling ones by 688 to 443 and 369 ended unchanged.

The ASX200 is expected to open down 20 points after the SPI200 was lower in overnight trade Friday.



AUD  MI Inflation Gauge 11am

EUR  German Retail Sales 4pm

EUR  Final Manufacturing PMI 6pm

GBP  Manufacturing PMI and Net Lending to Individuals 6:30pm

USD  FOMC Member Bostic Speaks 11pm

USD  ISM Manufacturing PMI 12am