The Morning Jumpstart


  • SPI200 (Mar) overnight futures down 1 pts to 6341
  • SP500 up 3.15 pts to 2943.03
  • NASDAQ up 15.46 pts to 8161.86
  • Dow Jones up 11.06 pts to 26,554.39
  • FTSE100 up 12.06 pts to 7440.66
  • DAX30 up 12.84 pts to 12,328.02
  • GOLD futures US Session (June) down $7.10 to $1281.70 an ounce
  • COPPER futures US Session (Comex July) up $0.0010 to $2.8950 a pound
  • OIL futures US Session (Nymex June) up $0.31 to $63.61 a barrel
  • CRB Index down 0.48 points to 184.18
  • AUDUSD trading at 0.7055
  • EURUSD trading at 1.1184
  • GBPUSD trading at 1.2932
  • USDJPY trading at 111.6500

The US broader market SP500 extended into record highs overnight supporting the bullish view that there is more upside to come. With upbeat earnings and hopes for an end to the US/China trade war, the fear of missing out may bring in more buyers to the market as price holds new high territory. US officials head to China where they said that they expect to hammer out details to seal a trade deal. The DOW closed up 0.04% while the broader SP500 was up 0.11% and the Nasdaq closed up 0.19%. In Europe, major Indexes continued to edge higher being supported by Spains election outcomes over the weekend with the ruling party’s policy being pro Eurozone.

Safe haven US bonds edged lower after data showed inflation remains in check ahead of the Federal Reserves meeting on interest rates Wednesday night.

The USD pushed lower after consumer spending data came in better than expected leaving traders mixed on the direction for future US interest rate moves. The EUR found buyers after the US data release along with the GBP and the AUD. The focus is now what the US Fed Reserve have to say about the state of the economy and their outlook for inflation as whether they see pressure to the upside on inflation as the economy shows strength. The USDJPY came under pressure as safe haven YEN buyers sold the pair after the consumer spending data release. Price is still holding below the 112.00 zone.

Gold gave up most of the gains from Fridays session as buyers continue to search for support. The weakness in the dollar could not support price as economic data came out better than expected and buyers exited safe haven bets in favour of shares. Oil continues to find selling pressure as Traders are caught between Trumps calls for OPEC to increase production and actual easing supplies from OPEC. Last weeks bullish sentiment has turned to uncertainty as recent buyers cut bets for higher prices. Copper had a volatile session as sellers thumped price lower in the European session only for support to hold and price to make back lost ground through US trading to end slightly higher at the close.

Cryptocurrencies came under further pressure across the board as Bitcoin trades at $5221.2 down 1.08% but the action is still above the key 5000 support zone. Ethereum is currently trading at $154.57 down 2.52% and Ripple is at $0.29441 down 1.28%.

The ASX200 opened lower and continued to grind lower throughout the session yesterday with the Index ending down 26.1 points to 6359.5 at the close. The Energy, Financials and Industrials sectors came under pressure while the Gold sector along with IT provided some support. Traders are cautious ahead of Bank earnings which some say will disappoint. Declining stocks outnumbered rising ones by 646 to 526 and 374 ended unchanged.

The ASX200 is expected to open relatively flat as the SPI200 holds the lows from the days session into the US close.


CNY Manufacturing and Non-Manufacturing PMI 11am

NZD ANZ Business Confidence 11am

AUD Private Sector Credit 11:30am

EUR German Consumer Climate and Import Prices 4pm

GBP MPC Member Ramsden Speaks 5:40pm

EUR German Unemployment Change 5:55pm

EUR Prelim Flash GDP 7pm

CAD GDP Data 10:30pm

USD Consumer Confidence 12am