The Morning Jumpstart


  • SPI200 (Sep) overnight futures down 3 pts to 5654
  • SP500 down 7.83 pts to 2692.23
  • NASDAQ up 29.83 pts to 7188.26
  • Dow Jones down 79.40 pts to 24,947.67
  • FTSE100 down 217.79 pts to 6704.05
  • DAX30 down 389.26 pts to 10,810.98
  • GOLD futures US Session (Feb) up $0.80 to $1243.40 an ounce
  • COPPER futures US Session (Comex Mar) down $0.0250 to $2.7490 a pound
  • OIL futures US Session (Nymex Jan) down $1.23 to $51.66 a barrel
  • CRB Index down 2.45 pts at 181.30
  • AUDUSD trading at 0.7236
  • EURUSD trading at 1.1382
  • GBPUSD trading at 1.2787
  • USDJPY trading at 112.7200


The US came back from the day off to trade lower as global markets continue to come under pressure. Fresh concerns over US/China trade had buyers on the back foot after news of the arrest of a top Chinese technology executive of telecom equipment maker Huawei Technologies in Canada at the request of the US. The news from early in the Asian session opened the US lower, however indexes had climbed off their lows into the close on a sign of strength from the bulls. Concerns over the US Bond Yield curve continue as 10 year bond yields fell pushing bond prices higher. The DOW was down 0.32%, the broader SP500 was down 0.29% while the Nasdaq was up 0.42%. In Europe shares were hit hard after news filtered through of the arrest. The export driven DAX was down around 3.48% while the FTSE ended down 3.15%.

Data out overnight showed that the politically sensitive goods trade deficit with China surged 7.1 percent to a record $43.1 billion in October. The US Commerce Department said the trade deficit increased 1.7 percent to $55.5 billion, the highest level since October 2008.

The USD edged lower as the bond markets and yields come under pressure and rate hike expectations faded. The EUR was higher along with the GBP even as as worry over how a British Parliament vote on a Brexit deal remain in focus. The AUD continued lower after disappointing economic data and increased tension on the US/China trade relationship.

Gold was again slightly higher from yesterdays close on the weakening USD. Oil come under selling pressure after expectations for a production cut fell apart. OPEC and allied exporting countries ended a meeting without announcing a decision to cut crude output. Copper continued to move lower as buyers disappear on trade concerns.

Cryptocurrencies were again lower as the pressure continues with Bitcoin trading at $3681.7 down 3.66%. Ethereum is currently trading at $97.66 down 6.70% while Ripple is at $0.32823 down 4.69%

The ASX200 started the session on the back foot and struggled for most of the day even after to lead form the US. The index closed again off the intraday lows to close down only 10.7 points at 5657.7. Declining stocks outnumbered rising ones by 631 to 428 and 380 ended unchanged. Resources continued to come under pressure while the banks also felt some heat. News that Canadian authorities arrested a senior executive of Chinese tech giant Huawei for extradition to the US had traders spooked and expecting further tension between the US and China.

The ASX200 is expected to open flat to down 5 points after the US staged a fight back from a weak open to drive the SPI200 higher. Traders will be focused on US employment data out tonight.



USD  Fed Chair Powell Speaks  10:45am

JPY  Average Cash Earnings 11am

EUR  German Industrial Production  6pm

EUR  Final Employment Change and Revised GDP  9pm

CAD  Employment Change and Unemployment Rate 12:30am

USD  Non-farm Employment Change and Unemployment Rate  12:30am

USD  Prelim Consumer Sentiment and Final Wholesale Inventories  2am

USD  FOMC Member Brainard Speaks  4am