The Morning Jumpstart


  • SPI200 (Mar) overnight futures down 18 pts to 5831
  • SP500 down 20.91 pts to 2643.85
  • NASDAQ down 79.18 pts to 7085.68
  • Dow Jones down 208.98 pts to 24,528.22
  • FTSE100 down 62.12 pts to 6747.10
  • DAX30 down 71.48 pts to 11,210.31
  • GOLD futures US Session (April) up $5.00 to $1309.20 an ounce
  • COPPER futures US Session (Comex March) down $0.0420 to $2.6870 a pound
  • OIL futures US Session (Nymex March) down $1.50 to $52.19 a barrel
  • CRB Index down 3.20 pts to 177.47
  • AUDUSD trading at 0.7169
  • EURUSD trading at 1.1428
  • GBPUSD trading at 1.3162
  • USDJPY trading at 109.3800

The US ended lower overnight to give up the gains made in Fridays session as traders take risk off the table ahead of Trumps meeting with Chinese officials. Traders have a lot to digest in the way of news ahead of the US Fed Reserve interest rate meeting in coming days and a parliament vote on Brexit. The positive is that the US government has started to re-open after a record long shutdown. The DOW closed down 0.84%, the broader SP500 down 0.78% and the Nasdaq down 1.11%. In Europe major Indexes were lower also giving up gains and positive sentiment from Fridays rally. Investors are still concerned with Global growth and Brexit.

The USD was steady ahead of the FOMC meeting on interest rates and as safe haven buying dried up as the ‘shutdown’ was ended. The EUR lifted but backed off from highs as the EUs dependence on trade caused uncertainty in the currency. The GBP was under pressure and caught in a range as traders are happy to keep risk off the table ahead of a vote on the terms of the Brexit. The AUD found sellers pushing price down through the European and US trading sessions as commodity Indexes were lower. The main focus now is on the outcome of a two day meeting between the US and China.

Gold was higher backing up a strong rally Friday night through the key 1300 level. Oil was lower as US imposed sanctions on Venezuela state-owned oil company could not out weigh an unexpected build in US stockpiles. Copper came under pressure as traders were largely taking risk off the table awaiting news on US/China trade. Price has crept up off key support although lacking conviction as traders need positive news on trade to build confidence.

Cryptocurrencies had a rough night to push lower with Bitcoin currently trading at $3438.3 down 3.89%, Ethereum is trading at $104.46 down 9.29% and Ripple is at $0.29214 down 5.42%.

The ASX200 was closed for Australia day holiday yesterday after finishing up 39.9 points to 5905.6 on Friday. AMP was belted after flagging a near 97% drop in its annual profit and slashed its final dividend. Higher commodity prices helped energy and mining stocks lift as BHP and RIO both outperformed the index to close up over 1%. Advancing stocks outnumbered falling ones by 681 to 453 and 324 ended unchanged.

The ASX200 is expected to open down 15 points from Fridays close as the SPI200 eased lower overnight.



AUD NAB Business Confidence 11:30am

EUR Spanish Unemployment Rate 7pm

USD CB Consumer Confidence 2am

GBP Parliament Brexit Vote Tentative