The Morning Jumpstart


  • SPI200 (Mar) overnight futures unchanged at 5827
  • SP500 Closed
  • NASDAQ Closed
  • Dow Jones Closed
  • FTSE100 up 2.26 pts to 6970.59
  • DAX30 down 69.34 pts to 11,136.20
  • GOLD futures US Session (Feb) down $3.00 to $1279.60 an ounce
  • COPPER futures US Session (Comex Mar) down $0.0440 to $2.6750 a pound
  • OIL futures US Session (Nymex Feb) up $0.10 to $53.90 a barrel
  • CRB Index closed
  • AUDUSD trading at 0.7159
  • EURUSD trading at 1.1369
  • GBPUSD trading at 1.2893
  • USDJPY trading at 109.6800

The US was closed for the session for Martin Luther King Day. The driving force for the market was China data as traders focused on a slowing economy. In Europe major Indexes edged lower as China data showed a slowdown in the economy as expected with 2018 its weakest year since 1990.

In Brexit News, British Prime Minister Theresa May is looking to break the parliamentary deadlock by proposing to seek further concessions from the EU. With the current deadline for leaving the EU at March 29, there is still no agreement on how the exit will happen or even if it will happen.

The USD was left to drift sideways in a quiet session with the EUR and the GBP edging higher while the AUD was weaker on Chinese data. The Yen also edged lower ahead of inflationary data due out in Japan today.

Gold again gave up some gains as price stumbled at the start of the European session. Oil was unchanged for the session after bouncing back from an initial minor selloff. Traders shrugged off China data and remained focused on OPEC output cuts. Copper had a rough start to the week as price fell from the start of the day and continued through to the early hours of the morning as a slowing Chinese economy did not help the bulls cause.

Cryptocurrencies were relatively unchanged overnight with Bitcoin currently trading at $3543.3 up 0.02%. Ethereum is trading at $116.64 down 0.85% and Ripple is at $0.31793 down 0.15%.

The ASX200 closed up only 10.8 points to 5890.4 after a promising open twenty points higher. Initial enthusiasm for an end to the trade war moved aside for wariness that a slowdown in China’s economy could hurt Australia’s fortunes. China’s data yesterday showed that the massive economy is slowing although the numbers were in line with expectations with a surprise from Industrial production. Advancing stocks outnumbered falling ones by 586 to 526 and 352 ended unchanged

The ASX200 is expected to open flat as the US was closed for a bank holiday overnight so the SPI200 was contained around the days close.



JPY BOJ CPI Data 4pm

GBP Average Earnings Index, Unemployment Rate and Public Sector Net Borrowing 8:30pm

EUR German ZEW Economic Sentiment 9pm

USD Existing Home Sales 2am