The Morning Jumpstart


  • SPI200 (Mar) overnight futures down 18 pts to 6222
  • SP500 down 1.83 pts to 2905.58
  • NASDAQ down 8.15 pts to 7976.01
  • Dow Jones down 27.53 pts to 26,384.77
  • FTSE100 down 0.19 pts to 7436.87
  • DAX30 up 20.35 pts to 12,020.28
  • GOLD futures US Session (June) down $4.40 to $1290.80 an ounce
  • COPPER futures US Session (Comex May) down $0.0120 to $2.9340 a pound
  • OIL futures US Session (Nymex May) down $0.32 to $63.57 a barrel
  • CRB Index down 0.95 points to 187.41
  • AUDUSD trading at 0.7171
  • EURUSD trading at 1.1303
  • GBPUSD trading at 1.3095
  • USDJPY trading at 112.0300

The US ended the session slightly lower giving up some recent gains as investors enthusiasm waned after Goldman Sachs and Citigroup reported quarterly revenue below consensus estimates. Traders are now focused on corporate earnings and global economic data to assess whether a cooling in the global economy is turning around. US bond yields eased with bond prices rallying slightly as the USD traded flat ahead of economic data out later in the week. The DOW closed down 0.10% while the broader SP500 was down 0.06% and the Nasdaq also closed down 0.10%. In Europe, major Indexes gained on positive news over the weekend on the trade front between the US and China. News out said that the US relaxed demands for China to curb Industrial subsidies as a condition for a trade deal.

The USD had a relatively flat session in the end to finish around where it started as traders await further economic data on Retail Sales and the US Trade Balance. The EUR backed off from highs made in the European session to close down where it finished Saturday morning as traders look ahead to German ZEW Economic Sentiment data tonight. The GBP managed to finish higher as buyers pressured sellers although resistance is holding at the 1.3120/30 zone. If this zone breaks, further buying may be triggered for a run up. The AUD held in a tight range between 0.7165 and 0.7180 while the USDJPY was also unchanged at the closing bell as price consolidated around 112.000.

Gold ended lower for the session although reacted strongly off support around lows at $1285 as buyers jumped into the action. Oil fell although bounced off intraday lows after Russia’s finance minister said that Russia and OPEC may boost production given the record output from the US. Copper ended the session lower after a strong rally Friday but now looks poised to continue up after a recent flush out of buyers to 2.9170. Traders are assessing whether a deal between the US and China is close and also whether global growth is is better than anticipated which will support Copper.

Cryptocurrencies eased lower as Bitcoin is currently trading at $5030.2 down 0.89% while Ethereum is trading at $160.07 down 2.43% and Ripple is at $0.31734 down 1.69%.

The ASX200 yesterday opened stronger but could not hold onto the gains into the close as the index finished up only 0.10 of a point to 6251.40. Financials were higher, managing to continue on from Fridays strength while Miners came under pressure as traders booked some recent gains. Declining stocks outnumbered rising ones by 640 to 525 and 375 ended unchanged.

The ASX200 is expected to open down 15/20 points after the SPI200 edged lower off the 6240 resistance zone overnight. Traders may be cautious ahead of the RBA minutes at 11:30am.


USD FOMC Member Rosengren Speaks 10am

AUD Monetary Policy Meeting Minutes 11:30am

GBP Average Earnings Index, Unemployment Rate and Claimant Count 6:30pm

EUR German ZEW Economic Sentiment 7pm

USD Industrial Production 11:15pm