The Morning Jumpstart


  • SPI200 (Sep) overnight futures down 2 pts to 5744
  • SP500 down 2.69 pts to 2741.10
  • NASDAQ down 18.51 pts to 7273.08
  • Dow Jones down 27.59 pts to 25,338.84
  • FTSE100 up 34.43 pts to 7038.95
  • DAX30 down 0.65 pts to 11298.23
  • GOLD futures (Feb) up $0.40 to $1230.20 an ounce
  • COPPER futures (Comex Mar) down $0.0210 to $2.7920 a pound
  • OIL futures (Nymex Jan) up $1.05 to $51.34 a barrel
  • CRB Index up 1.09 pts at 182.31
  • AUDUSD trading at 0.7316
  • EURUSD trading at 1.1389
  • GBPUSD trading at 1.2781
  • USDJPY trading at 113.4300


The US finished lower after a choppy session where the major indexes opened weak then rallied after the Feds minutes only to give up any gains in the dying minutes of the session. The Fed minutes showed that all members were in agreement that another hike is warranted soon although a series of headwinds have begun weighing on the economy leaving in question further hikes next year. Buyers were still muted as they head into the weekend awaiting the outcome of a meeting between Trump and his Chinese counterpart on Trade. The DOW was down 0.11% while the broader SP500 was down 0.10% and the Nasdaq also ended down 0.25%.  In Europe shares were also contained as the DAX finished flat while the FTSE managed to grind out some gains.

The USD held its ground although leaned to the downside into the close as traders continued to digest interest rate news. Interest rate futures are now pricing in only one more rate hike for 2019 which is down from three for the year. The major crosses were mixed as the EUR was up, the GBP gave up some recent gains and pushed lower and the AUD remained relatively unchanged from yesterday morning.

Gold continued to edge higher as traders bet on the US Feds tentative outlook on rates and hence the USD. Oil rallied after dropping the previous session on increased US oil inventories after news that Russia is leaning towards an output cut. Copper was lower as traders locked in the previous sessions gains ahead of the weekend as traders eye demand from China.

Cryptocurrencies found some more selling overnight after a strong bounce the previous session. Bitcoin is currently trading at $4232.9 down 2.85% while Ethereum is at $117.21 down 3.17% and Ripple is trading at $0.37783 down 5.58%.

The ASX200 yesterday managed to end the day up 33.30 points to 5758.40 but traders are still showing concerns and unwillingness to load up on risk. The focus remains well and truly on the China/US trade situation as traders await the outcome of a meeting between the two nations and the potential of an agreement on trade this weekend. Banks were stronger as the enquiry into the financial sector held its final hearings. Advancing stocks outnumbered falling ones by 673 to 514 and 340 ended unchanged.

The ASX200 is expected to open flat after the SPI200 gave up gains into the close of the overnight US session.



JPY  Tokyo Core CPI and Unemployment Rate  10:30am

AUD  Private Sector Credit  11:30am

CNY  Manufacturing and Non-Manufacturing PMI 12pm

All  Day 1 G20 Meetings

EUR  German Import Prices and Retail Sales 6pm

EUR  CPI Data and Unemployment Rate  9pm

CAD  GDP  12:30am

USD  FOMC Member Williams Speaks  1am