The Morning Jumpstart


  • SPI200 (Sep) overnight futures up 5 pts to 5739
  • SP500 up 7.39 pts to 2680.84
  • NASDAQ up 0.85 pts to 7082.70
  • Dow Jones up 108.49 pts to 24,748.73
  • FTSE100 down 19.15 pts to 7016.85
  • DAX30 down 45.61 pts to 11309.11
  • GOLD futures (Feb) down $8.50 to $1220.20 an ounce
  • COPPER futures (Comex Mar) down $0.0385 to $2.7345 a pound
  • OIL futures (Nymex Jan) up $0.14 to $51.77 a barrel
  • CRB Index down 0.38 pts at 179.92
  • AUDUSD trading at 0.7228
  • EURUSD trading at 1.1298
  • GBPUSD trading at 1.2734
  • USDJPY trading at 113.7600


The US saw choppy trade overnight oscillating between gains and losses on mixed signals over the US and China trade dispute. Trump has told advisors he expects that a deal can be done but also said that they are prepared to raise tariffs on $200 billion of imports to 25% from 10% if China doesn’t come to the party. Trade sensitive Industrial stocks came under fire as traders try to decipher the news to anticipate an outcome for the talks this weekend. The DOW was up 1.46% while the broader SP500 was up 1.56% and the Nasdaq also up 2.06%.  In Europe shares were lower on Trumps tariff news and also after a report in Germany of possible new US taxes on imported cars.

The US Fed Reserve said that they should continue to gradually raise interest rates but will monitor new data as they get closer to a neutral stance. Fed Chair Powell is due to speak tonight so his commentary will be closely watched for further clues on US interest rate hikes.

The USD was higher on the back of US interest rate talk and a kick higher in US Bonds. The EUR was lower on the rise in the USD while the GBP was also lower on the back of the USD although getting help from Trump comments regarding Brexit. Trump said the agreement allowing the UK to leave the EU may make trade between Washington and London more difficult. The AUD was unchanged from the previous close in a choppy session.

Gold was lower on a rise in the USD while Oil held its ground as traders wait to see if OPEC cut output to support price. Copper moved lower from pressure in the USD and as traders continue to await US/China talks for a potential long awaited lift in demand.

Cryptocurrencies may have stopped the rot with a mixed session as Bitcoin is current.y trading at $3800.7 up 1.18%. Ethereum is trading at $108.13 up 0.01% and Ripple is at $0.35317 down 1.12%.

After a slow start and some weakness after the open, the ASX200 closed up 56.70 points to 5728.30. Buyers came into the market around midday to support price and push higher into the close. Financial stocks led the charge after the banking regulator gave lenders more time to implement new capital rules on loans. Tariffs are still at the forefront of traders minds as Trump, just days ahead of meeting with the Chinese President, said that he expects to move ahead with tariffs. A recovery in oil helped support the energy sector while metals and mining also rallied. Advancing stocks outnumbered falling ones by 646 to 450 and 327 ended unchanged.

The ASX200 is expected to open up 5 points after a choppy night for the SPI200 which managed to hold onto the days gains.



NZD  RBNZ Gov Orr Speaks  9am

NZD  RBNZ Gov Orr Speaks  11am

AUD  Construction Work Done  11:30am

GBP  Bank Stress Test Results and BOE Financial Stability Report  Tentative

USD  Prelim GDP Data and Goods Trade Balance  12:30am

USD  Crude Oil Inventories  2:30am

USD  Fed Chair Powell Speaks  4am