The Morning Jumpstart


  • SPI200 (Mar) overnight futures up 20 pts to 6182
  • SP500 up 19.50 pts to 2811.02
  • NASDAQ up 52.38 pts to 7643.41
  • Dow Jones up 148.23 pts to 25,702.89
  • FTSE100 up 8.04 pts to 7159.19
  • DAX30 up 48.24 pts to 11,572.41
  • GOLD futures US Session (April) up $12.70 to $1310.80 an ounce
  • COPPER futures US Session (Comex May) up $0.0040 to $2.9320 a pound
  • OIL futures US Session (Nymex April) up $1.49 to $58.36 a barrel
  • CRB Index up 2.10 points to 183.41
  • AUDUSD trading at 0.7096
  • EURUSD trading at 1.1330
  • GBPUSD trading at 1.3310
  • USDJPY trading at 111.1500

The US was higher overnight after economic data showed low inflation which meant traders were happy to put on further risk into the share market. This pressured the USD lower as traders moved out of the dollar as a safe haven. Investors still have concerns as analysts estimates of corporate profits are being revised lower. The DOW closed up 0.58% while the broader SP500 was up 0.69% and the Nasdaq also closing up 0.69%. In Europe, major indexes ended the session slightly higher ahead of the parliament vote on Brexit. Major money may still be on the sidelines awaiting a conclusion to Brexit. Lawmakers voted against a potentially disastrous no deal exit so the next step is to seek to delay Brexit in the hope of securing a better deal or going to the people again to vote to stay.

The USD was lower as Producer Prices data came in weaker than expected in its smallest annual increase since June 2017 as the economy slows. The EUR and the AUD both ended higher with the AUD getting an extra boost from higher commodities. The GBP saw a strong move up on USD weakness and as parliament rejects a ‘no-deal’ Brexit. The USDJPY ended lower after retesting retesting resistance above 111.4000. Potential for the pair to see some strong selling if the weak USD theme continues.

Gold continued to push higher with the rally being supported by a move lower on the USD. Safe haven buyers are also happy to step in as Brexit uncertainty continues with what may be shaping up to be a new referendum to stay in the EU. Oil had a good night to close up strong above the 57.00 zone as US inventories come in a lot lower than expected. Copper saw some choppy price action but managed to close higher while buyers and sellers fight it out as they continue to await news on trade.

Cryptocurrencies ended the session relatively flat as Bitcoin is currently trading at $3867.9 down 0.33%. Ethereum was also slightly lower, currently trading at $132.13 down 0.60% while Ripple edged higher and is trading at $0.31430 up 1.13%.

The ASX200 yesterday saw its fourth down day in a row as the index finished down another 13.6 points to 6161.2. The ASX200 opened weaker and spent the majority of the session on the back foot only managing to rally off the lows into the close. The gold sector bounced back while the energy and healthcare sectors pressured the market lower. Fresh Brexit concerns had Asian and Aussie markets on the defensive yesterday. Falling stocks outnumbered advancing ones by 630 to 501 and 364 ended unchanged.

The ASX200 is expected to open up 25 points after the SPI200 made back lost ground overnight from yesterdays days session.



AUD MI Inflation Expectations 11am

CNY Industrial Production, Retail Sales and Unemployment Rate 1pm

EUR German Final CPI 6pm

USD Import Prices and Unemployment Claims 11:30pm

USD New Home Sales 1am

GBP Parliament Brexit Vote Tentative