The Morning Jumpstart


  • SPI200 (Sep) overnight futures up 9 pts to 5790
  • SP500 up 5.80 pts to 2616.10
  • NASDAQ up 10.86 pts to 7034.70
  • Dow Jones up 141.57 pts to 24,207.16
  • FTSE100 down 32.34 pts to 6862.68
  • DAX30 up 39.45 pts to 10,931.24
  • GOLD futures US Session (Feb) up $5.10 to $1293.50 an ounce
  • COPPER futures US Session (Comex Mar) up $0.0370 to $2.6720 a pound
  • OIL futures US Session (Nymex Feb) up $0.24 to $52.35 a barrel
  • CRB Index up 0.66 pts at 179.64
  • AUDUSD trading at 0.7172
  • EURUSD trading at 1.1396
  • GBPUSD trading at 1.2879
  • USDJPY trading at 109.0200

The US rose slightly overnight supported by positive earnings from Goldman Sachs and Bank of America. Data showed that the labour market continues to tighten and wages grow modestly putting focus on US interest rates. The Fed holds to its patient stance on rates but signs that the economy is still growing may see further rate hikes this year. Traders are currently factoring in no rate hikes for 2019 although the delayed release of economic data due to the government shutdown, is not helping. The DOW was up 0.59%, while the broader SP500 was up 0.22% and the Nasdaq closed up 0.59%. In Europe Indexes were generally higher although the FTSE was hurt by a rising Pound.

In Brexit news, the EU warned that if they have to renegotiate a new deal with Britain, things may get volatile. Since Mays defeat in parliament, analysts expect a softer exit but the EU have warned that the best deal for Britain is already on the table. Business in Britain are turning up the heat on politicians to deliver clarity as they see job losses and chaos at ports on a ‘no-deal’ hard exit.

The USD was stronger being supported by reports that wages are still growing and also selling into the Euro. The EUR was lower as traders are concerned about the Eurozone’s economy after Drahgi recently warned the the economy was weaker than expected. The GBP held onto previous gains to close flat while the AUD closed lower. The Yen managed to grind out gains with strength into the USD.

Gold was higher showing strength even as the USD rallied while Oil continued the move higher after OPEC and Russia cut supply of the commodity to support price. Copper also had a good night as shorts covered to lock in recent gains.

Cryptocurrencies turned positive overnight with Bitcoin trading at $3584.8 up 0.88%, Ethereum is trading at $121.16 up 2.53% and Ripple is trading at $0.32455 up 1.50%.

The ASX200 closed up 20.6 points yesterday to 5835.2 after hovering just above breakeven for most of the session. The rally was fueled by the potential for China stimulus although the bulls were contained by a troubled Brexit vote. Traders are expecting to see further volatility from a potential disorderly British withdrawal from the EU. Advancing stocks outnumbered falling ones by 613 to 465 and 339 ended unchanged.

The ASX200 is expected to open up 10 points as the SPI200 continued to grind higher in the overnight sessions.



AUD MI Inflation Expectations 11am

AUD Home Loans 11:30am

ALL G20 Meetings Day 1

JPY BOJ Gov Kuroda Speaks 2:20pm

GBP BOE Credit Conditions Survey 8:30pm

EUR CPI Data 9pm

USD Philly Fed Manufacturing Index and Unemployment Claims 12:30am

USD FOMC Member Quarles Speaks 2:45am