The Morning Jumpstart


  • SPI200 (Mar) overnight futures up 39 pts to 5876
  • SP500 up 18.34 pts to 2724.87
  • NASDAQ up 83.67 pts to 7347.54
  • Dow Jones up 175.48 pts to 25,239.37
  • FTSE100 up 13.91 pts to 7034.13
  • DAX30 down 4.08 pts to 11,176.58
  • GOLD futures US Session (April) down $5.70 to $1316.40 an ounce
  • COPPER futures US Session (Comex March) up $0.0260 to $2.7990 a pound
  • OIL futures US Session (Nymex March) down $0.54 to $54.72 a barrel
  • CRB Index up 0.06 pts to 180.61
  • AUDUSD trading at 0.7226
  • EURUSD trading at 1.1436
  • GBPUSD trading at 1.3038
  • USDJPY trading at 109.9200

The US continued on with the move up starting the week with a positive session in the green. The Nasdaq gained ahead of quarterly earnings from Alphabet, the last member of the FAANG group to report. Traders are still biding their time awaiting an update into the US/China trade negotiations. The DOW closed up 0.70% while the broader SP500 was also up 0.68% and the Nasdaq ended up 1.15%. In Europe, major Indexes were contained as the heavyweight banking sector continued to come under pressure following some poor results.

The USD gained to continue the move up started Friday after a better than expected US jobs number. The EUR, AUD and the GBP were all slightly weaker on USD strength, while the USDJPY continued the short squeeze as the buyers edged the pair higher.

Gold continued to see some profit taking as it was weighed down by USD strength. Oil was hit back down below the 54.00 level during the European session but then managed to make back some of the lost ground from the US open. Price is still oscillating around the 54.30 key resistance zone. Copper put in a good session to rally around 1.00% as the bulls came out to play.

Cryptocurrencies found some buyers overnight to hover in the green. Bitcoin is currently trading at $3468.0 up 0.61% while Ethereum is trading at $108.56 up 1.11% and Ripple is at $0.30264 up 0.75%.

The Australian Government has a lot to think about from recommendations by Commissioner Kenneth Hayne into the financial sector. The inquiry recommended sweeping changes to the business and pay models of mortgage and insurance broking, financial advice and pension fund management. Authorities were also urged to consider laying charges for misconduct which may affect CBA, NAB and ANZ. Now that the report is out, traders can assess the damage, if any, and it may be a case of ‘sell the rumour, buy the fact’. We expect to see tighter lending practices that will affect new loans and the property market which will be a hot topic ahead of expected elections in May.

The ASX200 managed to close up after a choppy start to the session. The index closed at 5891.2 up 28.4 points ahead of the recommendations released by the Australian Government tonight from the inquiry into the financial sector. Both buyers and sellers were washed around on the open as traders took risk off the table. Advancing stocks outnumbered falling ones by 595 to 539 and 320 ended unchanged.

The ASX200 is expected to open up 40 points as the SPI200 pushed up through key resistance levels overnight.



CNY Bank Holiday All Day

AUD Retail Sales and Trade Balance 11:30am

AUD RBA Statement and Cash Rate 2:30pm

GBP Services PMI 8:30pm

USD ISM Non-Manufacturing PMI 2am