The Morning Jumpstart


  • SPI200 (Sep) overnight futures up 17 pts to 5739
  • SP500 up 6.07 pts to 2736.27
  • NASDAQ down 11.16 pts to 7247.87
  • Dow Jones up 123.95 pts to 25,413.22
  • FTSE100 down 24.13 pts to 7013.88
  • DAX30 down 12.67 pts to 11341.00
  • GOLD futures (Dec) up $8.00 to $1223.00 an ounce
  • COPPER futures (Comex Dec) up $0.0420 to $2.7910 a pound
  • OIL futures (Nymex Dec) unchanged at $56.46 a barrel
  • CRB Index up 1.76 pts at 187.30
  • AUDUSD trading at 0.7332
  • EURUSD trading at 1.1415
  • GBPUSD trading at 1.2834
  • USDJPY trading at 112.8300


The US ended the week on a mildly positive note as the broader SP500 rallied on optimism for US/China trade relations. A possible easing stance on interest rates from the US Fed Reserve also helped buoy the share market. Trump said that he may not impose more tariffs on Chinese goods after Beijing sent a list of measures it was willing to take to resolve trade tensions. The DOW was up 0.49% and the broader SP500 was up 0.22% while the Nasdaq ending down 0.15%. In Europe shares were weaker in a choppy session as traders wait to see if Britains Prime Minister May will face a no-confidence vote over Brexit.

The USD slid lower after a Federal Reserve official said that US interest rates were near a neutral rate. US bond yields also weakened after the news and as traders re-positioned themselves. Traders are now having to re-assess the number of potential rate rises for next year and what that will mean for the USD. The EUR and the AUD were both higher again on the USD weakness while the GBP had another good night being supported by news that Prime Minister May won the support of the most prominent Brexiteer in her government as she fought to save a draft EU divorce deal.

Gold again rallied on the back of weakness into the USD. Oil was relatively unchanged for the session although held minor gains to finish the week. Traders are still focused on whether OPEC will cut production to stem the weekly slide and buoy prices. Copper again saw some buyers step in on the potential for easing trade tensions and some form of resolution to the trade war.

Cryptocurrencies were again under pressure as they held onto recent losses after Bitcoin broke a key support level to trigger selling across the board. Bitcoin is currently trading at $5645.6 up 0.46% while Ethereum is at $177.34 up 0.45% and Ripple is at $0.50605 up 0.94%.

Locally, the ASX200 had a mild day, trading in positive territory for most of the day until the final close where the index ended down 5.4 points to 5730.6. Advancing stocks outnumbered falling ones by 605 to 518 and 344 ended unchanged.

The ASX200 is expected to open up 10/15 points as the SPI200 closes up off support after a choppy US session to end the week.



NZD  PPI Data 8:45am

JPY  Trade Balance 10:50am

EUR  Current Account 8pm

EUR  Eurogroup Meetings  All Day

EUR  German Buba Monthly Report  Tentative