The Morning Jumpstart


  • SPI200 (Mar) overnight futures up 18 pts to 5845
  • SP500 up 41.06 pts to 2681.06
  • NASDAQ up 154.79 pts to 7183.08
  • Dow Jones up 434.90 pts to 25,014.86
  • FTSE100 up 107.70 pts to 6941.63
  • DAX30 down 37.17 pts to 11,181.66
  • GOLD futures US Session (April) up $8.70 to $1323.90 an ounce
  • COPPER futures US Session (Comex March) up $0.0500 to $2.7750 a pound
  • OIL futures US Session (Nymex March) up $0.98 to $54.29 a barrel
  • CRB Index up 0.94 pts to 180.11
  • AUDUSD trading at 0.7247
  • EURUSD trading at 1.1478
  • GBPUSD trading at 1.3109
  • USDJPY trading at 109.03

The US powered ahead overnight to finish the session with strong gains. Traders were happy with the Fed after rates were left on hold and said they are happy to be patient in lifting borrowing costs further this year. Apple rallied on better than feared quarterly results which helped to lift the tech heavy Nasdaq. Traders were also focused on any news from the first day of trade talks between the US and China. The DOW closed up 1.77% while the broader SP500 was up 1.56% and the Nasdaq led the charge up 2.20%. In Europe, major Indexes were muted ahead of the FOMC and trades talks so we expect to see them play catchup tonight with a strong session open. The UK FTSE did find some strength on a weaker GBPUSD prior to the FOMC announcement.

The USD was hit after the US Fed reserve left interest rates on hold and said that they were taking a more patient stance as inflation pressures were muted. The EUR, the AUD and the GBP all got a lift from the spike lower in the Dollar after the news at 6am, while the USDJPY fell to trade below the 109.00 mark.

Gold had another solid night to end higher thanks to the fall in the USD and less from safe haven buying into the commodity. Oil continued its move higher after sanctions on Venezuela Oil and OPEC production cuts helped push the price up through technical resistance around 54.40. Weaker than expected Crude Oil inventories also helped support buyers. Copper also continued its rally being supported by a drop in the USD. Iron Ore continued to rally overnight which should help support mining stocks today.

Cryptocurrencies had a good night with Ripple leading the charge. Bitcoin is currently trading at $3.457.1 up 0.83%, Ethereum is trading at $108.17 up 2.30% while Ripple is at $0.31701 up 9.10%.

The ASX200 was opened well but was then sold down during the session and only managed to close up 12.5 points to 5886.7 yesterday. A surge in Iron ore prices boosted mining stocks to help support the index as traders remained cautious ahead of a spate of news over the coming nights in the US. Declining stocks outnumbered rising ones by 594 to 533 and 376 ended unchanged.

The ASX200 is expected to open up 20 points after the SPI200 rallied to resistance during a strong US session overnight.



JPY BOJ Summary of Opinions 10:50am

JPY Prelim Industrial Production 10:50am

AUD Import Prices and Private Sector Credit 11:30am

CNY Manufacturing and Non-Manufacturing PMI 12pm

EUR German Retail Sales 6pm

EUR German Unemployment Change 7:55pm

EUR Prelim Flash GDP and Unemployment Rate 9pm

CAD GDP 12:30am

USD Unemployment Claims 12:30am