The Morning Jumpstart


  • SPI200 (Sep) overnight futures down 1 pts to 5430
  • SP500 down 39.54 pts to 2467.42
  • NASDAQ down 108.42 pts to 6528.41
  • Dow Jones down 464.06 pts to 22,859.60
  • FTSE100 down 54.01 pts to 6711.93
  • DAX30 down 155.11 pts to 10,611.10
  • GOLD futures US Session (Feb) up $7.50 to $1263.90 an ounce
  • COPPER futures US Session (Comex Mar) down $0.0130 to $2.7030 a pound
  • OIL futures US Session (Nymex Jan) down $2.05 to $46.12 a barrel
  • CRB Index down 3.55 pts at 172.67
  • AUDUSD trading at 0.7117
  • EURUSD trading at 1.1460
  • GBPUSD trading at 1.2665
  • USDJPY trading at 112.2300

The US came under pressure again with sellers continuing to push the market lower. Traders punished shares after the Fed raised rates the previous night and were less dovish than expected. To add to the nervousness, traders are also concerned over a government shutdown which kept buyers on the sidelines although the major Indexes did pair some losses into the close. The DOW was down 1.99%, while the broader SP500 was down 1.96% and the Nasdaq also closed down 1.63%. In Europe Indexes played catchup to US weakness as traders saw tighter monetary conditions weighing on economic growth and company earnings.

The USD was lower form the open as traders readjusted positions for the Feds 2019 less dovish outlook which lessened the appeal for dollar denominated assets. The GBP, the AUD and the EUR were all higher on USD weakness although the AUD was contained by weaker local data and pressure into commodities.

Gold had a good night as the USD came under fire and safe haven traders soaked up the sellers. Oil fell over again to trade down over 4% as traders see no short term change to the supply outlook only whispers of action to buoy the market. Copper also came under pressure although managed to soak up the selling pressure to bounce off the intraday lows.

Cryptocurrencies continued the move higher as Bitcoin currently trades at $3940.7 up 4.19%. Ethereum is up trading at $109.67 up 5.92% while Ripple was is trading lower at $0.36475 down 1.18%

The ASX200 fell off a cliff into the close as the Index finished down 74.8 points or 1.34% to 5505.8. Shares were lower across the board with attention paid to Energy, Materials and Miners which were hit hard. S32 was hit hard as the US said it would withdraw sanctions on a Russian aluminium producer. Declining stocks outnumbered rising ones by 809 to 348 and 321 ended unchanged.

The ASX200 is expected to open relatively unchanged as the SPI200 held the lows from the days weakness.



JPY National Core CPI Data 10:30am

GBP Current Account and Final GDP 8:30pm

GBP BOE Quarterly Bulletin 11pm

CAD Retail Sales Data and GDP 12:30am

USD Durable Goods Data and Final GDP 12:30am

CAD BOC Business Outlook Survey 2am

USD Personal Spending, Personal Income and Consumer Sentiment 2am