The Morning Jumpstart


  • SPI200 overnight futures down 7 pts to 6009
  • SP500 down 18.74 pts to 2705.27
  • NASDAQ down 20.34 pts to 7442.12
  • FTSE100 down 11.37 pts to 7678.20
  • DAX30 down 178.87 pts to 12604.89
  • GOLD futures down $3.80 to $1302.70 an ounce
  • COPPER futures down $0.45 to $306.45 a pound
  • OIL futures down $1.11 to $67.10 a barrel
  • CRB Index down 0.45 pts to 202.84
  • AUDUSD trading at 0.7567
  • EURUSD trading at 1.1694
  • GBPUSD trading at 1.3293
  • USDJPY trading at 108.8100

The US had another Yo-yo session as Indexes gave up most of the previous sessions gains as traders locked in some profit ahead of major employment data out tonight. The DOW was down 251.94 points or 1.02% while the SP500 was down 0.69% and the Nasdaq held up better and was down only 0.27%. Trade war concerns re-emerge to pressure markets as the United States moved to impose tariffs on metal imports from Canada, Mexico and the European Union. Mexico and Canada were swift to respond and will impose tariffs of their own on some US imported products. In Europe shares market Indexes were also sent lower on trade war concern. Stocks continued to be capped and pressured by troubles in Italian and Spanish politics while Bond Yields dropped.

Cryptocurrencies managed to bounce and put on gains as Bitcoin currently trades at $7567 up 2.75% while Ethereum is at $581.64 up 5.49% and Ripple at $0.61465 up 5.13%.

The USD ended the session slightly lower as trade war fears and European politics weighed on the currency. The GBP and EUR were both higher as Italian polls showed 60-72% of respondents wanted the country to remain part of the EU. The AUD edged lower in to the close.

Gold again was led around by the USD as the precious metal closed lower to give up yesterdays gains.  Copper also lost ground to finish slightly lower while Oil was lower even as US Oil Inventories came out a lot less than expected well in negative territory.

Locally, financials remain under pressure as banks edged lower in yesterdays trading. Energy bounced back yesterday but may not find as strong buying pressure today. Mining and Resources regained some lost ground yesterday but may flounder today as commodity Indexes were lower overnight. Traders will look for a follow on from yesterdays positive session although action may be contained ahead of US employment data tonight.

The ASX200 is expected to open down 10 points as the SPI200 followed overnight markets lower.



AUD  AIG Manufacturing Index 8:30am

AUD  HIA New Home Sales Tentative

CNY  Caixin Manufacturing PMI 11:45am

EUR  German Final Manufacturing PMI 5:55pm

EUR  Final Manufacturing PMI 6pm

GBP  Manufacturing PMI 6:30pm

USD  Non-Farm Employment Change and Unemployment Rate 10:30pm

USD  ISM Manufacturing PMI 12am

Day 2  G7 Meetings