The Morning Jumpstart


  • SPI200 overnight futures up 24 pts to 6113
  • SP500 up 25.87 pts to 2697.79
  • NASDAQ up 73 pts to 7339.91
  • FTSE100 up 96.77 pts to 7662.52
  • DAX30 up 30.86 pts to 12943.06
  • GOLD futures down $0.90 to $1312.80 an ounce
  • COPPER futures up $0.30 to $306.20 a pound
  • OIL futures up $2.18 to $71.24 a barrel
  • CRB Index up 1.61 to 203.70
  • AUDUSD trading at 0.7463
  • EURUSD trading at 1.1851
  • GBPUSD trading at 1.3547
  • USDJPY trading at 109.7200

The US surged overnight with energy stocks leading the way as Oil puts on strong gains. The DOW closed up 182.33 points or 0.75% while the SP500 was up 0.97% and the Nasdaq finished up 1%. Gains were broad based and volume was high as traders who have sat on the sidelines returned to take on risk. Higher Oil prices have revived inflation fears with US Bond Yields pushing higher to the 3.00% zone again. Traders focus will remain on yields for signs of a potential longer term bear market in shares if yields continue the push higher. In Europe the Iran story was the main focus as shares were also stronger thanks to the rise in oil prices and a surge in energy stocks.

Cryptocurrencies were again mixed overnight hovering around the same prices as bulls and bears come to a point of agreement. Bitcoin is currently up 1.15% at $9250 while Ethereum is up1.75% at $745.85 and Ripple down 1.47% at $0.79396.

The USD was relatively unchanged against a basket of currency pairs as traders took a breather.  The EUR was slightly lower at the close while the AUD was higher on the back of stronger commodity prices and the GBP was unchanged.

Gold edged lower as traders still search for direction. Copper was slightly higher as traders main focus is on demand as they await further clarity on the US/China trade issue.  Oil had a strong session after Trump’s decision the previous day to quit a nuclear agreement with Iran. Oil also got a boost from weaker than expected inventories as production falls.

The ASX200 is is expected to open up 20/25 points after the SPI200 pushes to new highs overnight. Traders today will be focused on energy and commodity stocks for positive moves.



NZD  RBNZ Gov Orr Speaks 11:10am

CNY  CPI and PPI Data 11:30am

EUR  ECB Economic Bulletin 6pm

GBP  Manufacturing Production, Goods Trade Balance and Industrial Production 6:30pm

GBP  Official Bank Rate, BOE Inflation Report and Monetary Policy Summary 9pm

USD  CPI Data and Unemployment Claims 10:30pm

USD  Federal Budget Balance 4am