The Morning Jumpstart


  • SPI200 overnight futures down 13 pts to 6023
  • SP500 up 8.85 pts to 2733.29
  • NASDAQ up 47.50 pts to 7425.96
  • FTSE100 down 89.01 pts to 7788.44
  • DAX30 down 193.08 pts to 12976.84
  • GOLD futures up $0.80 to $1298.20 an ounce
  • COPPER futures down $6.15 to $307.05 a pound
  • OIL futures down $0.37 to $71.83 a barrel
  • CRB Index up 0.17 to 206.38
  • AUDUSD trading at 0.7561
  • EURUSD trading at 1.1703
  • GBPUSD trading at 1.3353
  • USDJPY trading at 109.9900

The US ended higher after the US Fed Reserve released meeting minutes indicating that interest rates would not be raised at a faster than expected pace. The DOW was up 52.40 points or 0.21% while the SP500 was up 0.32% and the Nasdaq was up 0.64%. Most Fed policymakers saw little evidence that the US labour market was overheating which could lead to inflation problems, relieving some concerns for traders. In Europe markets were lower as buyers locked in gains from the recent strong rally. Also adding selling pressure is expectations that Italy’s incoming coalition government looks likely to implement big-spending policies which would just add to the debt pile and clash with the EU.

Cryptocurrencies were smacked lower as Bitcoin is currently trading at $7650.8 down 5.84% while Ethereum trades at $596.66 down 8.90% and Ripple at $0.6124 down 6.37%.

The USD was higher giving up gains into the close as Fed officials are still mixed on the number of rate rises for the year.  The EUR fell as data indicating a slowdown in European business activity hurt the currency pair. The GBP was lower on weaker than expected inflationary data which cast doubts on whether the BOE will raise rates this year. The AUD was also slightly lower at the close.

Gold was again relatively quiet as price edged higher while traders continued to struggle with further risk as markets stuck in a minor range the last few sessions.  Copper was hit hard on technical selling and further concerns over US and China trade. Oil was only slightly lower but held up well in the face of a sharp rise in US inventories. Traders will now be watching to see if OPEC raise output to cover shortfalls in supply from Iran and Venezuela.

The ASX200 is is expected to open down 10/15 points as the SPI200 falls to test down to 6000 support.



NZD  Trade Balance 8:45am

EUR  German Final GDP 4pm

GBP  BOE Gov Carney Speaks 6pm

EUR  ECB Financial Stability Review 6pm

USD  FOMC Member Dudley Speaks 6:15pm

GBP  Retails Sales 6:30pm

EUR  ECB Monetary Policy Meeting Accounts 9:30pm

USD  Unemployment Claims 10:30pm

USD  Existing Home Sales 12am