The Morning Jumpstart


  • SPI200 (Sep) overnight futures down 37 pts to 5666
  • SP500 down 17.37 pts to 2632.56
  • NASDAQ down 33.27 pts to 6938.98
  • Dow Jones down 178.74 pts to 24,285.95
  • FTSE100 down 7.46 pts to 6952.86
  • DAX30 up 54.20 pts to 11192.69
  • GOLD futures (Dec) down $4.80 to $1223.20 an ounce
  • COPPER futures (Comex Dec) down $0.0420 to $2.7525 a pound
  • OIL futures (Nymex Dec) down $4.21 to $50.42 a barrel
  • CRB Index down 5.40 pts at 179.60
  • AUDUSD trading at 0.7234
  • EURUSD trading at 1.1342
  • GBPUSD trading at 1.2832
  • USDJPY trading at 112.9000


The US came back after the holiday for a shortened session to find selling pressure and prices lower into the weekend. Headwinds to global growth continue and worries over the effect of higher interest rates on price-to-earnings multiples have kept risk on the sidelines and traders on the back foot. US Bond prices rallied; yields fell; fueled by safe haven buying. The DOW was down 0.73% while the broader SP500 was down 0.66% and the Nasdaq ending down 0.48%.  In Europe shares were generally lower across the board as a global slowdown and risk off attitude continued to concern traders.

The USD saw a strong rally Friday night as traders sought the asset as a safe haven after Oil was beaten lower. The EUR was lower on USD pressure and on signs that economic growth in the European region is slowing. The GBP was also weaker on USD strength not finding much support on a potential Brexit deal. The AUD was weaker and is expected to remain contained until US and China agree to de-escalate their trade war.

Gold was lower and provided no support for bulls as the USD rallied. Oil was lower as a fundamental picture of oversupply continues to put pressure on the commodity. Although OPEC is expected to reduce output, rising US oil supply has fueled concerns about a global surplus. Copper was lower after the holiday on continued concern over US/China trade and after Chinese markets were weak in Asian trade Friday.

Cryptocurrencies continued to move lower having a rough week as Bitcoin currently trades at $4040.0 down 5.67% while Ethereum is trading at $116.43 down 4.54% and Ripple is at $0.36524 down 9.73%.

The ASX200 closed up 24.9 points Friday to 5716.2 to buck the overnight trend after the SPI200 was dragged lower during the European session. The move on the ASX200 was fueled by banks and Energy shares which may see some selling pressure today after oil fell to the $50 a barrel level. Traders are seeing the 5650 level on the ASX200 as a key support zone after it was rejected Wednesday so it will be interesting if we see a ‘buy on dips’ mentality. Advancing stocks outnumbered falling ones by 559 to 556 and 355 ended unchanged.

The ASX200 is expected to open down 30 points as the SPI200 was dragged lower Friday night by the US.



NZD  Retail Sales Data  8:45am

JPY  Flash Manufacturing PMI  11:30am

EUR  German Ifo Business Climate  8pm

GBP  High Street Lending  8:30pm