The Morning Jumpstart


  • SPI200 overnight futures down 6 pts to 6094
  • SP500 down 18.68 pts to 2711.45
  • NASDAQ down 59.69 pts to 7351.63
  • FTSE100 up 12 pts to 7722.98
  • DAX30 down 7.67 pts to 12970.04
  • GOLD futures down $28.40 to $1289.80 an ounce
  • COPPER futures down $3.40 to $305.90 a pound
  • OIL futures up $0.04 to $71.00 a barrel
  • CRB Index down 0.38 to 203.45
  • AUDUSD trading at 0.7474
  • EURUSD trading at 1.1843
  • GBPUSD trading at 1.3510
  • USDJPY trading at 110.3300

The US had a rough night as US bond yields pushed higher as strong retail sales triggered inflation concerns and sent buyers scrambling and cutting risk. The DOW was down 193 points or 0.78% while the SP500 was down 0.68% and the Nasdaq down 0.81%. Traders are getting a little unsettled as the combination of firm growth and higher interest rates is unnerving and downward pressure on major Indexes is expected. Traders were also preoccupied with US/China trade talks and the feeling is that the previous sessions rally was misplaced and that a trade deal is far away with a slugfest still to come between the two trading power houses. In Europe the major share indexes were mixed with the German DAX trading slightly lower while the FTSE100 was higher. Shares were buoyed by higher oil prices and a drop in the Euro but pressured by risk adverse traders as they look to take profits in a stretched market.

Cryptocurrencies buyers went running for cover as major crosses were down across the board. Bitcoin is currently down 3.67% at $8512 while Ethereum is trading at $710.98 and Ripple is at $0.69835.

The USD spiked on rising bond yields which caused some reshuffling of major currency pairs.  The EUR, AUD and the GBP were all lower as the focus turns back to the pace of US interest rate rises.

Gold bulls will be scratching their heads today as the precious metal dropped out of the skies and finished down over 2%. Technical support was broken today with selling triggered by the USD strength. Copper also had a rough night down 1.10% while Oil traded in a range to finish the session where it started as traders look ahead to crude oil inventory data tonight.

The ASX200 is is expected to open down 5/10 points as the SPI200 was dragged lower by a weak US overnight. It will be interesting to see how low the ASX200 can go as price is extended and a bit of heat needs to come out of the market before a new leg up.



JPY  Prelim GDP 9:50am

AUD  Wage Price Index 11:30am

JPY  Revised Industrial Production 2:30pm

EUR  German Final CPI 4pm

EUR  Final CPI 7pm

EUR  ECB President Draghi Speaks 10pm

USD  Building Permits, Housing Starts and FOMC Member Bostic Speaks 10:30pm

USD  Indusrial Production 11:15pm

USD  Crude Oil Inventories 12:30pm

CHF  SNB Chairman Jordan Speaks 2am