The Morning Jumpstart


  • SPI200 overnight futures up 34 pts to 6029
  • SP500 up 29.35 pts to 2734.62
  • NASDAQ up 112.22 pts to 7554.33
  • FTSE100 up 23.57 pts to 7701.77
  • DAX30 up 119.38 pts to 12724.27
  • GOLD futures down $5.40 to $1299.30 an ounce
  • COPPER futures up $3.35 to $309.85 a pound
  • OIL futures down $1.23 to $65.81 a barrel
  • CRB Index down 1.13 pts to 201.71
  • AUDUSD trading at 0.7569
  • EURUSD trading at 1.1659
  • GBPUSD trading at 1.3346
  • USDJPY trading at 109.5400

The US had a strong finish to the week after jobs data rose more than expected and saw traders taking back on more risk in equities. The DOW was up 219.37 points or 0.90% while the SP500 was up 1.08% and the Nasdaq up 1.51%. Bond markets came back to life as yields kicked higher even though the jobs numbers were not deemed to be over inflationary which is a good sign for share traders. Trade concerns are still on the cards as recent tariffs on steel and aluminium is expected to see retaliation by the EU, Canada and Mexico. In Europe share markets breathed a sigh of relief as the Italian Government came to a deal to form a coalition government ending three months of political turmoil.

Cryptocurrencies continued to grind higher as Bitcoin is currently trading at $7697 up 0.74% while Ethereum is at $618.18 up 3.98% and Ripple is at $0.6628 up 3.33%.

The USD ended the session slightly higher after stronger than expected jobs data although prices were weighed down by trade concerns. The GBP edged higher while the EUR edged lower and the AUD was unchanged into the close. A drop in Italian bond yields helped buoy the Euro although it was outweighed by USD strength. The GBP benefited from stronger UK manufacturing data as growth picked up in May.

Gold was lower as safe haven traders saw no need to step into the precious metal as inflation looks contained in the US.  Copper had a good night to close out the week while Oil continued its move south.

Locally, the ANZ face criminal Cartel charges after senior bankers from ANZ met on a conference call with Deutsche and Citigroup in 2015. The charges will depend on the content of the recorded call as to whether ANZ instructed bankers to manipulate the supply of its shares to the market, in order to receive a more favourable outcome. Amazon will block Australians from using the US website after the Aussie government forced the behemoth to apply for GST.

The ASX200 is expected to open up 30/35 points after the SPI200 put in a solid rally to close out the week as strong US employment data dragged markets higher.



AUD  MI Inflation Gauge 11am

AUD  Retail Sales and Company Operating Profits 11:30am

EUR  Spanish Employment Change 5pm

GBP  Construction PMI 6:30pm

EUR  PPI Data 7pm

USD  Factory Orders 12am

GBP  MPC Member Tenreyro Speaks 3am