The Morning Jumpstart


  • SPI200 (Mar) overnight futures up 29 pts to 6325
  • SP500 up 10.68 pts to 2881.40
  • NASDAQ up 6.35 pts to 7916.94
  • Dow Jones up 114.01 pts to 25,942.37
  • FTSE100 down 4.12 pts to 7203.29
  • DAX30 up 85.91 pts to 12,059.83
  • GOLD futures US Session (June) up $2.20 to $1287.40 an ounce
  • COPPER futures US Session (Comex July) up $0.0070 to $2.7790 a pound
  • OIL futures US Session (Nymex June) down $0.04 to $61.66 a barrel
  • CRB Index down 0.05 points to 178.95
  • AUDUSD trading at 0.7002
  • EURUSD trading at 1.1233
  • GBPUSD trading at 1.2998
  • USDJPY trading at 109.9500

The US market got off to a bad start in Fridays session only to rebound strong into the close on positive comments over trade from both the US and China. The US followed through with the tariff increase to 25% from 10% on $200 Billion of Chinese imports and are looking at the potential for further increases depending on how talks progress from here. The talks have been described as ‘constructive’ by both sides leaving traders happy that a worst case scenario of a complete breakdown of negotiations has been avoided. The DOW closed up 0.44% while the broader SP500 was up 0.37% and the Nasdaq also closed up 0.08%. In Europe, shares were generally higher as traders see comments from Trump as more political than indicative of a change in sentiment for negotiations.

The USD was again lower as US bond yields edged higher into the close. The tariff increase was taken in stride by traders as they eased out of safe haven dollar positions. The EUR continued to move higher as buyers supported higher levels to put the squeeze on sellers. Key resistance levels for sellers are still higher at 1.1325. The AUD managed to finish higher back above the 0.7000 zone although continues to struggle on a lack of progress in trade talks. The GBP struggled and finished the session on the back foot as the local share market ended the week lower. The USDJPY rallied off the sessions lows to finish stronger as some buyers exited the safe haven Yen as prices the USDJPY hovers around support.

Gold ended the session with some gains and has continued the move up on the open today as traders remain in a safe haven mood. Oil ended flat as trades tensions continued to overshadow tightening global supplies. Copper worked its way off the intraday lows to close slightly higher although prices have opened down today as traders remain cautious as Trump talks up a further increase on another $300 Billion of Chinese goods.

Cryptocurrencies were mixed as Bitcoin continue to pile on the buying pressure today to open and push above the $7000 level. Bitcoin is currently trading at $7021.2 up 0.08% while Ethereum is at %186.23 down 5.97% and Ripple is at $0.31022 down 4.85%.

The ASX200 saw another choppy session but buyers managed to come out on top as the index finished up 15.6 points to 6310.9. The gains were mainly supported by the Gold and Utilities sectors. Advancing stocks outnumbered falling ones by 599 to 529 and 387 ended unchanged.

The ASX200 is expected to open up 30 points after the a strong finish for the SPI200 into the US close.


AUD Home Loans 11:30am

AUD RBA Assist Debelle Speaks 5pm

USD FOMC Member Clarida Speaks 11:10pm