The Morning Jumpstart


  • SPI200 overnight futures down 30 pts to 6007
  • SP500 down 6.43 pts to 2721.33
  • NASDAQ up 9.43 pts to 7433.85
  • FTSE100 up 13.54 pts to 7730.28
  • DAX30 up 82.92 pts to 12938.01
  • GOLD futures down $0.80 to $1309.00 an ounce
  • COPPER futures down $1.85 to $307.75 a pound
  • OIL futures down $2.83 to $67.88 a barrel
  • CRB Index down 2.32 to 203.34
  • AUDUSD trading at 0.7548
  • EURUSD trading at 1.1651
  • GBPUSD trading at 1.3309
  • USDJPY trading at 109.4100

The US was mixed with the DOW and SP500 lower while the Nasdaq ended higher ahead of the US long weekend. The energy sector was hit as Oil fell back below $70 a barrel, while a higher USD and uncertainty over North Korea and the US continued to pressure shares. The DOW was down 58.67 points or 0.24% while the SP500 was also down 0.24% and the Nasdaq finished up 0.13%. Trump did say that the meeting with North Korea could still take place but the news did nothing to increase risk appetite into equities. In Europe markets continued to be constrained by political problems in Italy while political risk has reared its ugly head again in Spain to pressure the EURO.

Cryptocurrencies still under pressure this morning with Bitcoin down 1.85% at $7353.7 while Ethereum is down 5.57% to $565.82 and Ripple is down 1.84% to $0.60486.

The USD ended higher for the session as further shorts were squeezed out of the market. Net USD short positions fell for the week to its lowest level since early Jan as the currency posted its fifth weekly gain in the last six. The EUR, GBP and AUD were all lower at the close.

Gold was slightly lower at the close as recent buyers were pressured by the stronger USD.  Copper was lower as USD rallied and technical sellers continue pressuring the buyers as continued uncertainty between US and China trade throw uncertainty on demand for the metal. Oil had its first decent down day on growing expectations that increased supply may hit the oil price.

The ASX200 is expected to open down 20/25 points after another push lower into the close of the US session to close out the week. Could be a quiet session on the ASX200 as the US is closed for Memorial Day and the London Stock Exchange is closed in the European session.



GBP  Bank Holiday

USD  Bank Holiday