The Morning Jumpstart


  • SPI200 (Mar) overnight futures down 8 pts to 6093
  • SP500 down 9.82 pts to 2774.88
  • NASDAQ down 29.36 pts to 7459.71
  • Dow Jones down 103.81 pts to 25,850.63
  • FTSE100 down 61.23 pts to 7167.39
  • DAX30 up 21.31 pts to 11,423.28
  • GOLD futures US Session (April) down $21.10 to $1326.80 an ounce
  • COPPER futures US Session (Comex May) down $0.0180 to $2.9020 a pound
  • OIL futures US Session (Nymex April) down $0.28 to $56.88 a barrel
  • CRB Index up 0.14 points to 183.41
  • AUDUSD trading at 0.7092
  • EURUSD trading at 1.1335
  • GBPUSD trading at 1.3037
  • USDJPY trading at 110.7000

Traders in the US had a dose of reality again today as weaker than expected economic data highlights the slowing global economy. The market has been lifted recently by prospects that the US and China will hammer out a deal over the coming weeks or months but recent data continues to show weakness and take heat out of the momentum move. Traders are hoping that a trade deal will help support growth which has been constrained by tariffs. The DOW closed down 0.40% while the broader SP500 was down 0.35% and the Nasdaq also closed down 0.39%. In Europe, major indexes were mixed with the FTSE lower on ‘Brexit Fatigue’ but the DAX ending positive. Gains were hard to come by as earnings disappointed and slowing global economic growth concerns hung over buyers.

The USD initially moved lower on weaker than expected economic data but then bounced to make back some of the lost ground. The dollar is still bouncing around between support and resistance as traders await a fresh catalyst to move it one way or another. The main focus is still on slowing global growth and trade talks. The EUR, AUD and the GBP all came under selling pressure on the rally in the USD. The AUD came under the most pressure even after better than expected jobs numbers as Iron Ore edges lower and news that China’s Dalian port authorities had banned Australian coal imports. The USDJPY ended higher being lifted by USD but also offset by safe haven buying into the Yen.

Gold fell hard as recent gains were locked away from buyers as a rally in the USD took some heat out of the bulls. Oil also gave up some recent gains on USD strength after pushing up through 57.00 a barrel. The daily trend higher is still in tact but looking stretched. Copper found pressure from the USD rally although held up better than Gold as it gained back some lost ground with a pop higher into the close.

Cryptocurrencies gave up some recent gains overnight as Bitcoin is currently trading at $3930.5 down 0.68%. Ethereum is trading at $145.14 down 1.25% while Ripple is at $0.31877 down 2.53%.

The ASX200 yesterday saw a choppy start to the session but then powered higher after employment data showed an unexpected increase in new jobs. The Index ended the day up 42.7 points to 6139.2 with the big four leading the way. Rising stocks outnumbered declining ones by 610 to 555 and 322 ended unchanged.

The ASX200 is expected to open down 5 points as some heat came out of the SPI200 rally overnight as the US closed lower.



AUD RBA Gov Lowe Speaks 9:30am

EUR German Final GDP 6pm

EUR German Ifo Business Climate 8pm

EUR Final CPI Data 9pm

CAD Retail Sales Data 12:30am

USD FOMC Member Williams Speaks 2:15am

USD ECB President Draghi Speaks 2:30am