The Morning Jumpstart


  • SPI200 (Mar) overnight futures up 6 pts to 6245
  • SP500 down 6.61 pts to 2900.45
  • NASDAQ down 4.15 pts to 7996.08
  • Dow Jones down 3.12 pts to 26,449.54
  • FTSE100 up 1.40 pts to 7471.32
  • DAX30 up 51.75 pts to 12,153.07
  • GOLD futures US Session (June) down $0.40 to $1276.80 an ounce
  • COPPER futures US Session (Comex May) up $0.0320 to $2.9620 a pound
  • OIL futures US Session (Nymex May) down $0.29 to $63.76 a barrel
  • CRB Index down 0.68 points to 186.60
  • AUDUSD trading at 0.7175
  • EURUSD trading at 1.1299
  • GBPUSD trading at 1.3039
  • USDJPY trading at 112.0400

The US edged lower overnight as mixed earnings results capped investor sentiment after some positive data from China during the Asian session showed that Industrial output surged in March. The index gave up earlier gains from the open as Healthcare stocks dragged on the action thanks to continued concern over changes to policy in the sector. US Trade deficit data showed numbers hit eight month lows on the back of weak Chinese imports thanks. The DOW closed down 0.01% while the broader SP500 was down 0.23% and the Nasdaq also closed down 0.05%. In Europe, major Indexes held onto recent gains being supported by data from China and a rally into auto stocks. The positive data release helped to ease concerns over the heatlth of the worlds second largest economy.

The USD traded relativey flat for the session as traders were bouyed by the Chinese data release but are awaiting more data for further positive signs that global growth is recovering. The EUR managed to rally off lows around the 1.1280 zone during the Asian session only to fall during the US to end with minor gains. Traders are awaiting economic data out tonight for the Eurozone to further assess the strength of the EUs economy. The GBP continued to come under pressure above key support around 1.2980/1.3000 although buyers managed to support price intraday as they stepped in at the 1.3030 level. The lower highs may mean that this minor level is only temporary and a test of 1.3000 is on the cards soon. The AUD originally rallied after the China data release at midday yesterday but could not hold onto the gains as the currency pair fell back down during the US session to where it started although held a slightly higher level at 0.7165 compared to 0.7155 prior to the release. The USDJPY looks more positive as price action holds minor higher levels but continues to oscillate around the 112.000 zone.

Gold was again pushed lower as risk sentiment improved and traders looked to shares for action away from the safe haven. Oil reversed course to end lower after earlier gains on chinese data and a fall in US oil inventory data. The action looks more like a case of locking in gains from the rally ahead of a long weekend than weakness into the commodity. Copper had a good night to finally push up through the key reistance zone at 2.9780 as price was supported by Chinas Industrial Output data. Iron Ore prices rallied to push back up to recent minor highs after getting knocked down the previous session.

Cryptocurrencies edged higher with buyers starting to pick up again as Bitcoin currently trades around $5216.5 up 1.04%. Ethereum is trading at $166.30 up 0.72% and Ripple is at $0.33611 up 4.35%.

The ASX200 had a mixed day yesterday as the open saw the bulls kick price higher then sellers came in to push price lower throughout the day into the close. The index finished the session down 21 points to 6256.4 as theMetals and Mining, Materials and Resources sectors weighed on the market. The only two sectors that finished with gains for the session were Financials and Telecoms. Declining stocks outnumbered rising ones by 626 to 544 and 357 ended unchanged.

Traders will be cautious ahead of Aussie employment data at 11:30am with expectations for unemployment to rise to 5% and new jobs to increase by 15.2K.

The ASX200 is expected to open up 5/10 points as the SPI200 found support from buyers overnight at 6235.


AUD Employment Change and Unemployment Rate 11:30am

EUR German PPI Data 4pm

EUR French Flash Services and Manufacturing PMI 5:15pm

EUR German Flash Services and Manufacturing PMI 5:30pm

EUR Flash Services and Manufacturing PMI 6pm

GBP Retails Sales and BOE Credit Conditions Survey 6:30pm

CAD Retails Sales Data 10:30pm

USD Retail Sales Data 10:30pm