The Morning Jumpstart


  • SPI200 (Mar) overnight futures up 24 pts to 5963
  • SP500 up 12.83 pts to 2737.70
  • NASDAQ up 54.55 pts to 7402.09
  • Dow Jones up 172.15 pts to 25,411.52
  • FTSE100 up 143.24 pts to 7177.37
  • DAX30 up 191.40 pts to 11,367.98
  • GOLD futures US Session (April) down $0.10 to $1319.20 an ounce
  • COPPER futures US Session (Comex March) up $0.0220 to $2.8170 a pound
  • OIL futures US Session (Nymex March) down $0.86 to $53.70 a barrel
  • CRB Index down 0.66 pts to 179.95
  • AUDUSD trading at 0.7235
  • EURUSD trading at 1.1408
  • GBPUSD trading at 1.2953
  • USDJPY trading at 109.9800

Traders in the US were focused on positive earnings for the session which was enough to fuel a move higher ahead of Trumps ‘State of the Union’ speech today. Traders continue the bull run this year that is supported by the hope for a trade deal between the US and China and The Fed Reserves ‘patient’ stance on interest rates. The DOW closed up 0.68% while the broader SP500 was up 0.47% and the Nasdaq ended up 0.74%. In Europe, major Indexes had a strong session as the commodity heavy FTSE ended up over 2% thanks to a fall in the pound which boosted companies with revenues outside of Britain. A recovery in Banks also helped fuel the optimism and bring out the buyers.

The USD continued to gain being supported overnight by US data and as traders squeezed the shorts ahead of Trumps speech. The EUR and the GBP were both weaker on USD strength, while the USDJPY was unchanged as safe haven selling held the pair in check. The AUD continued to edge lower overnight giving up some of the gains from a sharp spike during the day session as interest rates were left on hold and caught bears off guard.

Gold ended higher from the previous close although trading was contained during the US session thanks to pressure from the USD. Oil was again pushed lower and held below 54.00 ahead of US Oil inventories out tonight where expectations are for a rise of 1.5M barrels. Copper continued the move up on US/China trade optimism.

Cryptocurrencies remained contained compared to past volatility as Bitcoin currently trades at $3461.1 down 0.26% while Ethereum is trading at $107.05 down 1.07% and Ripple is at $0.29970 down 0.73%.

The ASX200 had a big session yesterday to close up 114.7 points or 1.95% to 6005.9. The banks did well as they opened strong and never looked back as traders seemed to have factored in more than a slap on the wrists from the Government and Commissioner Hayne. The RBA left interest rates on hold for a 27th time in a row which left AUD bears scrambling to exit as the AUDUSD spiked 50 pips. The RBA also acknowledged that risks to the downside have increased globally which means Aussie growth forecasts have dropped from 3.5% to 3% for the year. They also mentioned they retain the view that ‘further progress in reducing unemployment and having inflation return to target is expected‘…in other words they are leaning to a rate rise not cut, hence the rally in the Aussie. Advancing stocks outnumbered falling ones by 656 to 480 and 348 ended unchanged.

The ASX200 is expected to open up 20/25 points as the SPI200 continue to lift overnight thanks to strength in the European and US sessions.



CNY Bank Holiday

AUD RBA Gov Lowe Speaks 12:30pm

USD President Trump Speaks 1pm

EUR German Factory Orders 6pm

USD Trade Balance 12:30am

USD Crude Oil Inventories 2:30am