The Morning Jumpstart


  • SPI200 (Mar) overnight futures up 10 pts to 6220
  • SP500 up 3.03 pts to 2895.77
  • NASDAQ up 15.19 pts to 7953.88
  • Dow Jones down 83.97 pts to 26,341.02
  • FTSE100 up 5.02 pts to 7451.89
  • DAX30 down 46.35 pts to 11,963.40
  • GOLD futures US Session (June) up $6.00 to $1301.60 an ounce
  • COPPER futures US Session (Comex May) up $0.0400 to $2.9340 a pound
  • OIL futures US Session (Nymex May) up $1.38 to $64.46 a barrel
  • CRB Index up 1.02 points to 188.70
  • AUDUSD trading at 0.7124
  • EURUSD trading at 1.1263
  • GBPUSD trading at 1.3061
  • USDJPY trading at 111.5000

The US ended mixed overnight as the DOW was dragged lower while the broader market SP500 ended higher along with the Tech heavy Nasdaq. The DOW fell as GE and Boeing come under fire and as traders prepare for a decline in earnings for the first time in three years with reporting kicking off at the end of the week. Energy companies supported the broader market as Oil continued to rally. The DOW closed down 0.32% while the broader SP500 was up 0.10% and the Nasdaq also closed up 0.19%. Europe also ended mixed as the German DAX index closed lower after data released showed German exports and imports fell more than expected in February. The FTSE held onto minor gains into the close on hopes for a Brexit extension and as the GBP rallied.

The USD moved lower as concerns over the global economy eased after recent stronger than expected economic data and as traders reduced safe haven positions in favour of shares. The EUR continued to rally on the back of USD weakness as the currency bounced last week from traders cutting long positions as European Bond Yields moved negative on a struggling Eurozone. Traders are now positioning for the ECB Monetary Policy Statement later in the week where they will get further detail on future interest rates. The GBP rebounded to hold above key support around 1.2975 as traders await to see if Prime Minister May can get a second extension to Brexit from the EU. The AUD edged higher as the currency continued to find support from positive growth data from China and the US last week although buyers are still being capped with resistance around the 0.7131 zone. The USDJPY pushed lower from the Monday morning open and held lows through the European and US session as the USD came under pressure from sellers.

Gold continued to bounce and ended back above the $1300 an ounce level as buyers found support from a weakening USD. Aussie gold continues to hold above key support around the $1810 zone although the bulls are still being contained by resistance up at $1832. Oil had another good night to rally over 2% on the futures contract as fighting in Libya along with ongoing supply cuts from OPEC and US sanctions on Iran and Venezuela supported the commodity. Copper saw buyers come back into the action on a weaker USD.

Cryptocurrencies continue to edge higher as bitcoin holds above 5200 currently trading at $5219.7 up 1.68%. Ethereum was a standout trading at $179.31 up 3.61% and Ripple lagged, currently trading at $0.35638 down 0.69%.

The ASX200 opened up above the 6200 level and held onto gains throughout the session. The index closed up 40.1 points as the Gold Sector, Miners and Resources supported the action while the Financial sector dragged on the market. Rising stocks outnumbered declining ones by 666 to 489 and 372 ended unchanged.

The ASX200 is expected to open up 10 points as the SPI200 pushed up into minor resistance in a mixed overnight session.



AUD Home Loans 11:30am

EUR Italian Retail Sales 6pm

USD JOLTS Job Openings 12am