The Morning Jumpstart


  • SPI200 (Mar) overnight futures up 30 pts to 6263
  • SP500 up 0.05 pts to 2867.24
  • NASDAQ up 19.78 pts to 7848.69
  • Dow Jones down 79.29 pts to 26,179.13
  • FTSE100 up 73.74 pts to 7391.12
  • DAX30 up 72.80 pts to 11,754.79
  • GOLD futures US Session (June) up $1.70 to $1295.90 an ounce
  • COPPER futures US Session (Comex May) down $0.0160 to $2.9090 a pound
  • OIL futures US Session (Nymex May) up $0.97 to $62.56 a barrel
  • CRB Index up 0.91 points to 186.37
  • AUDUSD trading at 0.7070
  • EURUSD trading at 1.1201
  • GBPUSD trading at 1.3139
  • USDJPY trading at 111.3600

The US could not continue the positive sentiment as weaker than expected data weighed down on buyers. Core Durable goods orders came in less than expected although previous months figures were revised higher. The release may show that the manufacturing sector is stabilizing which adds to data from Monday. All in all, buyers may still need more evidence to add further risk to share markets. The DOW closed down 0.30% while the broader SP500 was up 0.01% and the Nasdaq closed up 0.25%. European ended the session stronger making up for the action in the US the previous session. The FTSE initially rallied on a weakening Pound after the EU said Britain could be heading for a potentially disorderly exit although tonights action may reverse some of the gains as the Pound rallied after the close.

The USD found some buying pressure even as data on durable goods came out less than expected. Buyers continue to prefer the USD over other currencies such as the Euro and Pound which suffer from weak data and political uncertainties. A safe haven bid stepped into US Bonds as Yields edged lower. The EUR was little changed by the close in a choppy session spending most of the time in negative territory. Brexit and easing global growth concerns continue to weigh on the Currency. The GBP started the session under pressure but then rallied into the close after May announced that she will ask the EU for an extension to try and break the deadlock in parliament. The AUD slumped after the RBA held rates at 1.50% but highlighted some uncertainty about the outlook which weighed on buyers. The USDJPY had a good night as the bulls took control after weaker US retail sales data came out to push the USD higher.

Gold managed a minor bounce as the USD edged higher on a safe haven bid. Aussie gold had a good night as the AUDUSD fell after the RBA statement on interest rate so we expect to see some buying into Gold stocks today. Oil continued to move higher up another 1.5% on tightening supply on the prospect of more sanctions against Iran and further Venezuelan disruptions. Copper continued to move lower off key resistance even after Trump talks up trade negotiations with China saying ‘talks are going very well’. The market may need to see more action and less talk for a shot at new highs.

Cryptocurrencies finally found some volatility overnight to race higher as Bitcoin currently trades at $4780.9 up 13.37%. Ethereum is trading at $160.05 up 12.06% while Ripple lags slightly trading at $0.34748 up 9.93%.

The ASX200 opened strong and continued to push higher until around 1pm where price took a nosedive of over 30 points where price was contained into the close. The index finished up 25.4 points to 6242.4 with the Information Tech and Consumer Discretionary Sectors being the standouts while Gold stocks continued lower. Rising stocks outnumbered declining ones by 642 to 498 and 344 ended unchanged.

The ASX200 is expected to open up 30 points as the SPI200 pushed higher overnight through a positive European session.



AUD Retail Sales and Trade Balance 11:30am

CNY Caixin Services PMI 12:45pm

EUR German Final Services PMI 6:55pm

GBP Services PMI 7:30pm

USD ADP Non-Farm Employment Change 11:15pm

USD ISM Non-Manufacturing PMI 1am

USD Crude Oil Inventories 1:30am