The Morning Jumpstart


  • SPI200 (Mar) overnight futures up 1 pts to 6270
  • SP500 up 6.16 pts to 2873.40
  • NASDAQ up 46.87 pts to 7895.56
  • Dow Jones up 39.00 pts to 26,218.13
  • FTSE100 up 27.16 pts to 7418.26
  • DAX30 up 199.61 pts to 11,954.40
  • GOLD futures US Session (June) down $0.50 to $1294.90 an ounce
  • COPPER futures US Session (Comex May) up $0.0380 to $2.9430 a pound
  • OIL futures US Session (Nymex May) down $0.11 to $62.47 a barrel
  • CRB Index up 0.48 points to 186.85
  • AUDUSD trading at 0.7112
  • EURUSD trading at 1.1234
  • GBPUSD trading at 1.3155
  • USDJPY trading at 111.4900

The US put in another rally overnight after a pause in the previous session. Buyers were happy to add risk into shares thanks to optimism over U.S.-China trade talks. The Financial Times reported the two sides were drawing closer to a deal which comes after the White House said they expect to make more headway in trade talks. Gains were capped as data showed that the labour markets private employers added fewer jobs than expected. The DOW closed up 0.15% while the broader SP500 was up 0.21% and the Nasdaq closed up 0.60%. European had a good night being supported by optimism on trade and also data out of china which showed activity in its services sector hit a 14-month highs. News that Brexit talks may be taking a step forward also helped support markets.

The USD slipped overnight which boosted other currency pairs after US bond yields rallied taking pressure off the yield spread and hence the dollar as a safe haven. The EUR rallied from dollar weakness and was buoyed on positive talk for a final trade deal. The GBP also joined in the party and rallied being helped by news that May will meet with opposition leader to put aside their political differences and try to work out a Brexit solution. The AUD made back some lost ground as retail sales data came out yesterday better than expected. Buyers were also supported by positive data out of china and the falling dollar overnight. The USDJPY continued on its way higher on dollar strength and no need for a safe haven YEN buy.

Gold held its ground and ended flat even as the dollar fell as safe haven buyers stayed out of the action. Aussie gold is under pressure from the rally into the AUDUSD while gold could see further pressure on the horizon as risk continues to go into the share market. Oil saw some buyers lock in gains as price action edged lower overnight after US inventory data showed unexpected gains. Fundamental support still remains so we could expect further pressure from buyers. Copper rallied once US stocks opened being supported by trade news. Buyers may be starting to hold key higher levels so we expect to see a strong move higher as long as news flow on trade continues.

Cryptocurrencies continue higher in another promising session for the bulls. Bitcoin is currently trading at $5200.1 up 8.84% while Ethereum is trading at $175.51 up 8.84% and Ripple is at $0.36547 up 5.09%.

The ASX200 ended the day with some solid gains but the intraday action was choppy. The index closed up 42.6 points to 6285 with Materials, Resources and Metals and Miners leading the charge. The big four banks did not fair so well with CBA and WBC the only two to finish with slight gains. Buyers were supported by positive local retail sales data and positive data out of China. Rising stocks outnumbered declining ones by 604 to 528 and 366 ended unchanged.

The ASX200 is expected to open flat to up 5 points as the SPI200 was range bound overnight hovering above and below the days closing level.



EUR German Factory Orders 5pm

EUR ECB Monetary Policy Meeting Accounts 10:30pm

USD Unemployment Claims 11:30pm