The Morning Jumpstart


  • SPI200 (Mar) overnight futures down 12 pts to 6150
  • SP500 down 8.34 pts to 2824.23
  • NASDAQ up 5.02 pts to 7728.97
  • Dow Jones down 141.71 pts to 25,745.67
  • FTSE100 down 32.99 pts to 7291.01
  • DAX30 down 184.52 pts to 11,603.89
  • GOLD futures US Session (April) up $6.80 to $1313.30 an ounce
  • COPPER futures US Session (Comex May) up $0.0040 to $2.9270 a pound
  • OIL futures US Session (Nymex April) up $0.80 to $59.83 a barrel
  • CRB Index up 0.37 points to 185.60
  • AUDUSD trading at 0.7116
  • EURUSD trading at 1.1416
  • GBPUSD trading at 1.3205
  • USDJPY trading at 110.7100

The US closed lower as interest rate-sensitive financial stocks dragged down the indexes in the final hour of trade after the Fed reiterated their dovish stance on monetary policy. The Central Bank indicated that they see no further rate rises for 2019 and also released details for reduction of its balance sheet. The US Dollar took a nosedive after the news which helped commodities rally. The Fed cited mixed data releases and risks from Brexit and trade negotiations as reasons to remain cautious. The DOW closed down 0.55% while the broader SP500 was down 0.29% while the Nasdaq closed up 0.07%. Europe had a rough session to end lower ahead of the Fed interest rate release and after the EU resisted Prime Minister Mays plea to delay Brexit. The uncertainty in Brexit is weighing on companies who are reluctant to move forward with any plans when they do not know what the landscape will be.

The USD reacted lower after the Fed remained committed to a cautious stance and noted no rate rises for 2019. The EUR and the AUD rallied hard after the Fed release and managed to hold onto the gains while the GBP did rally but was only making back some losses from news on Brexit and finished the session towards its lows. British government is now faced with a hard exit or a ‘no-deal’ exit or passing Mays deal next week. Getting a longer extension to Brexit looks slim at this stage. The USDJPY closed the session lower as the USD took a hit.

Gold rallied as safe haven traders jumped in on Brexit unknowns and also as the commodity was supported by a drop in the USD. Oil made back the previous sessions losses plus a bit more to end a touch below the $60 level thanks to the USD while Copper got a lift from the drop in the dollar and after Trump tries to prop up markets with a positive tone on China negotiations.

Cryptocurrencies managed to grind out some gains with Bitcoin currently trading above 4000 at $4025.3 up 0.38% while Ethereum is at $138.45 up 0.05% and Ripple is trading at $0.31657 up 0.46%.

The ASX200 saw another choppy session yesterday with the bears taking control into the close. The Index ended the day down 19.5 points to 6165.3 as Materials, Metals and Mining and the Resources sectors dragged the market lower. Falling stocks outnumbered advancing ones by 635 to 521 and 349 ended unchanged.

The ASX200 is expected to open down 5 points in an extended open due to futures contract rollover. The Market is still looking heaving as the ASX200 saw bears take control yesterday.



NZD GDP Data 8:45am

AUD Employment Change and Unemployment Rate 11:30am

AUD RBA Bulletin 11:30am

CHF SNB Monetary Policy Assessment and Libor Rate 7:30pm

CHF SNB Press Conference 8pm

GBP Retail Sales 8:30pm

EUR EU Economic Summit All Day

GBP Official Bank Rate and Monetary Policy Summary 11pm

USD Unemployment Claims 11:30pm