The Morning Jumpstart


  • SPI200 (Mar) overnight futures up 24 pts to 6021
  • SP500 up 1.77 pts to 2709.65
  • NASDAQ up 9.71 pts to 7307.91
  • Dow Jones down 53.22 pts to 25,053.11
  • FTSE100 up 57.93 pts to 7129.11
  • DAX30 up 107.81 pts to 11,014.59
  • GOLD futures US Session (April) down $6.60 to $1311.90 an ounce
  • COPPER futures US Session (Comex March) down $0.0220 to $2.7880 a pound
  • OIL futures US Session (Nymex March) down $0.33 to $52.39 a barrel
  • CRB Index down 0.92 pts to 177.11
  • AUDUSD trading at 0.7062
  • EURUSD trading at 1.1275
  • GBPUSD trading at 1.2858
  • USDJPY trading at 110.3800

The US had a quiet night as major indices opened higher and then drifted lower throughout the session to finish around Fridays close. With no news flow on US/China trade, traders were keeping risk off the table and happy to sit on the sidelines as they await Fed Chair Powells speech later tonight. The DOW closed down 0.21% awaiting trade news while the broader SP500 was up 0.07% and the Nasdaq also ended up 0.13%. In Europe, major indexes were less cautious than the US and rallied on optimism for a trade deal as the US and China head to talks in Beijing.

The USD traded higher from the open yesterday to pressure USD crosses throughout the day and into the overnight sessions. The Dollar has found recent support from safe haven buying as traders are skeptical that a trade deal will be made before the March deadline. The EUR, GBP and the AUD were all weaker from the close of the previous session. The USDJPY rallied along with the USD as traders sought the safe haven. Expect Powells speech tonight to see some action into the USD bringing in volatility.

Gold managed to rally during the US session after falling through European trade but could not manage to make back the lost ground and finished lower. Aussie gold did well to gain during the US and hold highs into the close. Oil had a yoyo session as an initial spike lower was rejected and price rallied back to make up the lost ground. Copper was knocked down as markets opened yesterday morning and could not bounce back through the European or US sessions. Price is still finding pressure with no new trade news after recently having a good run into resistance. We expect further profit taking to edge price lower before buyers are again happy to jump back into the action.

Cryptocurrencies had a mixed night with the majors edging higher. Bitcoin is current flat at $3645.6 down 0.3% while Ethereum is trading at $122.03 up 2.85% and Ripple is at $0.30418 up 0.19%.

The ASX200 ended the session lower yesterday after starting in the green and then selling down into negative territory as the big four banks came under fire. Resource and mining stocks could not push the index into the green and the ASX200 ended down 10.7 points to 6060.8. Falling stocks outnumbered advancing ones by 579 to 551 and 334 ended unchanged.

The ASX200 is expected to open up 20 points as the SPI200 rallied off lows from the days session and held onto highs.



AUD Home Loans and NAB Business Confidence 11:30am

EUR German Buba President Weidmann Speaks 7pm

GBP BOE Gov Carney Speaks 12am

USD Fed Chair Powell Speaks 4:45am