The Morning Jumpstart


  • SPI200 overnight futures up 11 pts to 6119
  • SP500 down 2.33 pts to 2720.13
  • NASDAQ down 15.82 pts to 7382.47
  • FTSE100 up 53.77 pts to 7787.97
  • DAX30 up 118.28 pts to 13114.61
  • GOLD Spot down $1.04 to $1289.75 an ounce
  • COPPER futures up $1.35 to $308.40 a pound
  • OIL futures up $0.11 to $71.60 a barrel
  • CRB Index down 0.20 to 203.56
  • AUDUSD trading at 0.7513
  • EURUSD trading at 1.1796
  • GBPUSD trading at 1.3514
  • USDJPY trading at 110.7600

The US retreated overnight with all three major Indexes closing lower as a rise in energy shares was offset by selling into Tech shares. The DOW was down 54.96 points or 0.22% while the SP500 down 0.09% and the Nasdaq down 0.21%. Trump was again voicing his opinions on China as a second round of US/China trade negotiations kick off saying China had become too “spoiled” and that his expectations for the negotiations were low. In the meantime US bond yields continue to be the ‘elephant in the room’ and moving higher indicating increasing borrowing costs to come. In Europe shares were higher as they played catch up with the US from the previous sessions rally.

Cryptocurrencies continued their grind lower as Bitcoin trades at $8187 down 1.19% while Ethereum trades at $684.12 and Ripple at $0.6651.

The USD again edged higher as bond yields held on to highs and continue to pressure shares.  The EUR was slightly lower from this time yesterday while the GBP was slightly higher and the AUD was relatively unchanged as employment data came out better than expected yesterday although the Unemployment rate kicked up to 5.6% from 5.5%.

Gold backed off slightly to finish lower and hover around long term support zones as it continues to be pressured by a rise in the USD and US bond yields.  Copper was higher being supported by supply dynamics while Oil continued to edge higher. Traders are starting to get nervous that the strong run up in Oil may end in tears as it is a crowded trade and buyers will start to look for a chance to lock in gains.

The ASX200 is is expected to open up 10 points as the SPI200 managed to grind higher overnight off support around 6089. The ASX200 is still hovering up around resistance with selling pressure starting to take control.



EUR  German PPI data and WPI 4pm

USD  FOMC Member Mester Speaks 5pm

EUR  Current Account 6pm

EUR  Trade Balance 7pm

CAD  CPI data and Retail Sales Data 10:30pm

USD  FOMC Member Brainard Speaks 11:15pm