The Morning Jumpstart


  • SPI200 (Mar) overnight futures up 11 pts to 6076
  • SP500 up 4.16 pts to 2779.76
  • NASDAQ up 14.36 pts to 7486.77
  • Dow Jones up 8.07 pts to 25,891.32
  • FTSE100 down 40.30 pts to 7179.17
  • DAX30 up 10.01 pts to 11,309.21
  • GOLD futures US Session (April) up $22.20 to $1344.30 an ounce
  • COPPER futures US Session (Comex March) up $0.0740 to $2.8730 a pound
  • OIL futures US Session (Nymex March) up $0.48 to $56.07 a barrel
  • CRB Index up 0.91 points to 182.24
  • AUDUSD trading at 0.7165
  • EURUSD trading at 1.1342
  • GBPUSD trading at 1.3064
  • USDJPY trading at 110.5800

The US share indexes were higher after the long weekend being supported by some solid earnings reports. The US are looking to address China’s currency policy and are seeking a pledge from China that they will not devalue the Yuan to counter any tariffs. The DOW closed up 0.03% while the broader SP500 was up 0.15% and the Nasdaq closed up 0.19%. In Europe, Indexes lost momentum as they awaited further news on US/China trade. Indexes were also weighed down on the prospect of tariffs from the US on imported autos from Europe which is particularly going to hurt Germany.

The USD moved lower as it loses some of its appeal for a safe haven trade as investors await further good news on trade with the US and China heading back into talks. The EUR pushed higher through the US session on USD weakness to erase earlier losses from the European session. The AUD also rallied hard through the US session gaining 70 pips along with the GBP which also found strength as the USD headed lower. The USDJPY ended relatively unchanged after an initial rally thanks to safe haven buying through the Asian and European sessions gave way to selling into the US close.

Gold powered higher as the gold bulls came out in force and price extended on recent gains as traders sought the safety of the precious metal after data out of Europe kept investors out of riskier assets. Oil holds above the 56.00 level but was initially sold down on the US open as buyers locked in some gains. Price recovered and hovers at resistance near 56.20 as traders look for a follow through on the breakout but prices are still capped by trade uncertainty and higher than expected Iranian oil exports. Copper also had a good night being supported by the weaker USD and as price holds above recent highs on anticipation that the US and China and coming to terms on trade.

Cryptocurrencies had another positive session across the board as Bitcoin is currently trading at $3960.5 up 1.69%. Ethereum is trading at $146.63 up 0.82% wile Ripple is currently at $0.3339 up 3.24%.

The ASX200 pushed higher from the open through yesterdays highs only to give up some of the gains into the close. The Index finished up 17.1 points to 6106.9 as the big four banks led the charge higher. Falling stocks outnumbered advancing ones by 619 to 527 and 341 ended unchanged.

The ASX200 is expected to open 10 points as another positive session in the US lifts the SPI200 overnight.



AUD MI Leading Index 10:30am

JPY Trade Balance 10:50am

AUD Wage Price Index 11:30am

EUR German PPI 6pm

USD FOMC Meeting Minutes 6am