The Morning Jumpstart


  • SPI200 (Sep) overnight futures up 9 pts to 6152
  • SP500 up 2.08 pts to 2925.51
  • NASDAQ up 25.54 pts to 8025.09
  • FTSE100 up 35.73 pts to 7510.28
  • DAX30 closed
  • GOLD futures (Dec) down $5.90 to $1201.10 an ounce
  • COPPER futures (Comex Dec) up $0.018 to $2.825 a pound
  • OIL futures (Nymex Nov) up $0.98 to $76.21 a barrel
  • CRB Index up 1.26 pts at 201.23
  • AUDUSD trading at 0.7103
  • EURUSD trading at 1.1473
  • GBPUSD trading at 1.2944
  • USDJPY trading at 114.5200


The US was stronger overnight with the DOW leading the charge as the index moved into new all time highs. US Bond yields continued to climb being supported by stronger than expected employment data. Traders will now be focused on the US non-farm employment data out Friday which may see further gains into the USD. The DOW closed up another 54.45 pts or 0.20% while the broader SP500 was also up 0.07% and the Nasdaq up 0.32%.  In Europe share Indexes were higher as sentiment changed towards the Italian deficit concerns.

The Italian government indicated that it was open to trimming its budget deficit and debt levels which soothed investors nerves and prompted a wider move back into stocks and other higher-risk assets. Italian bonds rallied after the government pledged it would narrow budget deficits in the coming years.

The USD index had a strong night to continue the move higher being supported by a positive US Fed Reserve and better than expected jobs data. Traders also bought up the USD as a safe haven against potential further pressure in Emerging markets although negativity is easing for now. The GBP, the AUD and the EUR were all lower on USD strength.

Gold gave up some recent gains as Italian debt news caused safe haven buyers to close out of positions and lock in gains. With strength in global equity markets and the USD, gold may continue to be choppy as traders see no longer term reason to park money in the asset instead of the appreciating USD. Copper also continued to gain while Oil bounced back to move through $76 a barrel on WTI Oil even as US inventories came out better than expected. Oil may be starting to pick up steam as global supply is widely expected to fall.

Cryptocurrencies struggled overnight and are currently down across the board. Bitcoin is trading at $6493.8 down 1.05% while Ethereum is at $219.40 down 3.42% and Ripple is trading at $0.52485 down 4.01%.

Locally, the ASX200 closed up 19.90 points as commodity stocks found some love from buyers while banks continued to come under pressure. A good overnight session lifted the resource stocks with heavy weights BHP and RIO leading the charge. We may see more of the same today with commodity Indexes higher and Oil rallying overnight. Advancing stocks outnumbered falling ones by 641 to 537 and 368 ended unchanged.

The ASX200 is expected to open up 5/10 points as the SPI200 continued the positive move up from the day in the European and US sessions.



AUD  Trade Balance 11:30am

USD  Unemployment Claims 10:30pm

USD  FOMC Member Quarles Speaks 11:15pm

USD  Factory Orders 12am