The Morning Jumpstart


  • SPI200 (Mar) overnight futures down 15 pts to 6130
  • SP500 up 3.44 pts to 2796.11
  • NASDAQ up 26.92 pts to 7554.46
  • Dow Jones up 60.14 pts to 26,091.95
  • FTSE100 up 5.14 pts to 7183.74
  • DAX30 up 47.69 pts to 11,505.39
  • GOLD futures US Session (April) down $3.90 to $1328.90 an ounce
  • COPPER futures US Session (Comex May) up $0.0020 to $2.9500 a pound
  • OIL futures US Session (Nymex April) down $1.88 to $55.38 a barrel
  • CRB Index down 2.31 points to 181.75
  • AUDUSD trading at 0.7171
  • EURUSD trading at 1.1361
  • GBPUSD trading at 1.3099
  • USDJPY trading at 111.0600

The US had another positive session being buoyed by US/China trade developments. Trump tweeted that the March 1 deadline for wrapping up talks with Beijing would be extended, hinting that a deal made be near. Although traders widely expected this to happen, it is a positive evidence that things are happening. Although it is still not clear how long the extension will be, its is expected to cover the Trump-Xi meeting. The DOW closed up 0.23% while the broader SP500 was up 0.12% and the Nasdaq also closed up 0.36%. In Europe, shares were higher being supported by news on the tariff deadline delay and potential deal being struck between the two super powers.

The USD initially inched higher during the session but then fell back into negative territory into the close as US bond yields rallied. Traders will be waiting for Fed Chair Powell’s speech later tonight which may give more direction on rates and inflation along with how they plan to tackle the changing landscape of tariffs. The EUR, AUD and the GBP all continued to edge higher after the USD faded into the close. GBP traders are gearing up for further Brexit drama as British Parliament is expected to vote on a potential Brexit delay on Wednesday. The USDJPY ripped higher through European trade into the US session only giving up some gains late as the USD came under some pressure and the safe haven Yen was sold lower. Technical buyers jumped into the action as price approached the 111.000 zone.

Gold ended the session lower as risk appetite increased for shares and safe haven buyers took some gains off the table into the commodity. Oil fell over 3% on the futures contract after Trump tweeted for OPEC to ‘relax and take it easy’ in regards to higher Oil prices. Copper ended the night relatively flat after gaining ground in the European session on tariff reprieve only to give up the gains through to the US close.

Cryptocurrencies had a better night as they still remained locked below key resistance zones. Bitcoin is currently trading at $3862.9 up 1.69% while Ethereum is at $139.90 up 0.45% and Ripple is trading at $0.32980 up 9.11%.

The ASX200 had a choppy session as it opened with confidence only to get sold down into negative territory and then rally into the close. The Index closed up 19 points to 6186.3 in the end as China surged more than 3% after Trump delays tariffs. Rising stocks outnumbered declining ones by 659 to 508 and 345 ended unchanged.

The ASX200 is expected to open down 10/15 points after the SPI200 was contained in overnight trade.



JPY BOJ Core CPI Data 4pm

GBP Inflation Report Hearings 9pm

USD Building Permits and Housing Starts 12:30am

USD Fed Chair Powell Testifies 1:45am

USD CB Consumer Confidence 2am