The Morning Jumpstart


  • SPI200 overnight futures down 45 pts to 5968
  • SP500 down 31.47 pts to 2689.86
  • NASDAQ down 37.26 pts to 7396.59
  • FTSE100 down 97.64 pts to 7632.64
  • DAX30 down 196.95 pts to 12666.51
  • GOLD futures down $5.80 to $1303.20 an ounce
  • COPPER futures down $2.25 to $305.50 a pound
  • OIL futures down $1.01 to $66.87 a barrel
  • CRB Index down 1.53 pts to 201.82
  • AUDUSD trading at 0.7505
  • EURUSD trading at 1.1539
  • GBPUSD trading at 1.3257
  • USDJPY trading at 108.6800

The US came back after the long weekend to selling pressure as Italian politics sparked concern over the stability of the Eurozone. The DOW was down 391.64 points or 1.58% while the broader SP500 was down 1.16% while the Nasdaq was down only 0.50%. Banks were lower thanks to a drop in US Bond yields as traders bought into bonds as a safe haven against EU instability. Lower Oil prices also put pressure on markets. The VIX volatility Index spiked as share prices fell. In Europe markets came under further pressure from the potential of a bailout of Italy as the cost of Italian debt soars. Traders now see renewed concern over a break up of the Eurozone as Italy head towards a repeat election.

Cryptocurrencies bounced to trade higher as Bitcoin is currently up 3.51% at $7490.7 while Ethereum is at $566.57 up 7.40% and Ripple at $0.60243 up 5.25%.

The USD saw a safe haven rally as traders dived into the currency as share markets were sold lower. The GBP, EUR and AUD were all lower on a strengthening USD with the EUR coming under the most pressure.

Commodities were all about the strength in the USD as Gold was lower and did not see support from safe haven buying.  Copper and Oil continued their move lower as the USD rallied to put further pressure on already weak markets as oil still remained concerned over expectations that Saudi Arabia and Russia would pump more oil.

The ASX200 is expected to open down 45 points after overnight markets dragged the SPI200 lower. Traders will be watching numbers at 11:30am which may cause added volatility to already negative markets.



JPY  BOJ Gov Koroda Speaks 10am

NZD  RBNZ Gov Orr Speaks 11:10am

AUD  Building Approvals 11:30am

EUR  German Retail Sales and Import Prices 4pm

EUR  German Prelim CPI All day

EUR  German Unemployment Change 5:55pm

USD  ADP Non-Farm Employment Change 10:15pm

USD  Prelim GDP, Goods Trade Balance and Wholesale Inventories 10:30pm

CAD  BOC Rate Statement and Overnight Rate12am

CHF  SNB Chairman Jordan Speaks 12:45am

USD  Beige Book 4am