The Morning Jumpstart


  • SPI200 (Sep) overnight futures up 34 pts to 6692
  • SP500 up 20.44 pts to 3005.47
  • NASDAQ up 47.26 pts to 8251.40
  • Dow Jones up 177.29 pts to 27,349.19
  • FTSE100 up 41.93 pts to 7556.86
  • DAX30 up 201.34 pts to 12,490.74
  • GOLD futures US Session (August) down $9.10 to $1417.80 an ounce
  • COPPER futures US Session (Comex Sept) down $0.0170 to $2.7050 a pound
  • OIL futures US Session (Nymex Sep) up $0.94 to $57.16 a barrel
  • CRB Index up 0.49 pts to 179.04
  • AUDUSD trading at 0.7005
  • EURUSD trading at 1.1152
  • GBPUSD trading at 1.2444
  • USDJPY trading at 108.2000
  • USD Index (ICE Sept) at 97.417 up 0.477

US Indexes continued the move higher with another positive session on the back of earnings which beat expectations and an accommodative Fed. Although traders were in a buying mood, the IMF (International Monetary Fund) cut is global forecast citing extended tariff disputes between the US and trading partners and also the prospect of Britain leaving the EU without a deal. Traders may be looking at continued growth concerns as a reason for further cuts to support the stock market as traders search for yield. The DOW closed up 0.65% while the broader SP500 was up 0.68% and the Nasdaq ended up 0.58%. In Europe, major Indexes were also supported by the prospect of lower rates from the ECB who are expected to set the scene for a Sept rate cut on Thursday in its Monetary Policy statement to the market.

The UK has finally decided who will be leading the party as Boris Johnson is elected leader by his Conservative Party members by around 2 to 1 over rival Jeremy Hunt. Boris is pro Brexit and vows to take his country forward and take advantage of all the opportunities that Brexit can bring. He takes over from Theresa May who was forced out after failing to deliver a deal on Brexit.

The USD Index continued to push higher being supported by a ‘less aggressive’ Fed on rate cuts and also as congress agreed to extend the US debt limit for two years which eased fears of a government default. The Euro pushed below 1.1200 and didn’t look back as the constant selling pressure continued from the Asian session through the European and US sessions. The GBP found selling pressure on the back of a weaker USD and as a pro Brexit Johnson takes the helm. Boris is seen as an unpredictable character and not somebody who will calm the markets and as such, credit agencies have warned the risk of a no-deal Brexit is now higher. The AUD moved down through 0.7000 touching on previous lows around 0.6996 as sellers remain in control. The stronger dollar dragged the USDJPY higher pushing up to previous major highs around 108.35.

Gold continued to find some pressure and gave up gains after a bounce off support as a stronger USD continues to be the theme for traders after New York Fed chief dialed back comments from last week which sent the dollar lower and Gold higher. Oil edged slightly higher as concerns faded over escalating tensions in the Middle East. Copper sellers remain in control as price moves lower and finds support around 2.6865 as price holds lower highs.

Cryptocurrencies continued to edge lower with Bitcoin trading at $10139.9 down 2.70% and Ethereum currently at $216.63 down 0.64% while Ripple is at $0.31323 down 2.71%.

The ASX200 had a positive session yesterday as buyers pushed price higher on the open and managed to hold the gains into the gains. Recent price action suggests that a run at the all time highs may be on the cards soon. The Index ended up 33.4 points to 6724.6 with the Energy and Info Tech sectors leading the charge higher while Gold stocks ended weaker. Rising stocks outnumbered declining ones by 678 to 522 and 385 ended unchanged.

The ASX200 is expected to open up 30/35 points as the SPI200 continued the march higher overnight in a strong overnight session.


NZD Trade Balance 8:45am

EUR French Flash Services and Manufacturing PMI 5:15pm

EUR German Flash Services and Manufacturing PMI 5:30pm

EUR Flash Services and Manufacturing PMI 6pm

GBP High Street Lending 6:30pm

USD Flash Services and Manufacturing PMI 11:45pm

USD New Home Sales 12am

USD Crude Oil Inventories 12:30am