The Morning Jumpstart


  • SPI200 (Sep) overnight futures up 35 pts to 6794
  • SP500 down 4.89 pts to 3020.97
  • NASDAQ down 36.88 pts to 8293.33
  • Dow Jones up 28.90 pts to 27,221.35
  • FTSE100 up 137.55 pts to 7686.61
  • DAX30 down 2.43 pts to 12,417.47
  • GOLD futures US Session (December) up $7.10 to $1439.30 an ounce
  • COPPER futures US Session (Comex Sept) up $0.0340 to $2.7190 a pound
  • OIL futures US Session (Nymex Sep) up $0.85 to $57.05 a barrel
  • CRB Index up 0.64 pts to 177.80
  • AUDUSD trading at 0.6902
  • EURUSD trading at 1.1147
  • GBPUSD trading at 1.2216
  • USDJPY trading at 108.7800
  • USD Index (ICE Sept) at 97.800 up 0.049

US Indexes were mixed overnight as the DOW closed higher while the broader market SP500 gave up some of Fridays gains as bulls took a breather. Traders are counting down until they receive a clearer direction from the Fed Reserve on interest rates going forward and there is a lot riding on whether there may be more cuts to follow. The DOW closed up 0.11% while the broader SP500 was down 0.16% and the Nasdaq also ended down 0.44%. In Europe, markets were generally flat accept the FTSE100 which rallied hard from the open. The London Index was buoyed by merger activity which supported sentiment even as Brexit continued to pressure the pound.

Brexit Chaos continues as Scotland’s representative government said it would not support a no-deal Brexit. The news threw a spanner in the works for newly elected Boris Johnson who is preparing to leave the EU with or without a deal on October 31st. Many investors expect that this may tip Britain into a recession and cause volatility in financial markets.

The USD Index continued to inch higher into the Fed meeting which starts Thursday with all eyes firmly focused on the statement as many analysts see two more rate cuts factored in by years end and the Fed has the potential to seriously disappoint. The Euro managed to rally off the lows despite the dollar strength as buyers edged into the action and sellers locked away some gains. The GBP was hit hard to drop over 100 pips as it seemed that a hard Brexit looks inevitable and was not fully factored into the price. The AUD hovered around the lows seeming to support minor dips as commodity indexes rallied and Iron ore prices consolidate highs. The USDJPY reversed earlier session losses to push higher as the USD continued up.

Gold again found support as safe haven buyers see continued uncertainty globally and potential for a spike in volatility and a risk off tone into equities. Price again rejected support at 1413 but things could easily change after the Fed Reserve statement as price hinges on US interest rates. Oil found buying support below 56.00 and managed to rally into the close to finish on its highs. Copper also found some support through the European session and held the gains into the US close.

Cryptocurrencies saw a relatively choppy session with bears still holding prices lower. Bitcoin is currently trading at $9598.7 down 1.64% while Ethereum is at $211.49 up 1.73% and Ripple is at $0.31090 up 0.47%.

The ASX200 opened up stronger yesterday and managed to hold the positive bias into the close although giving up a few points in the match at 4:10pm. The index ended up 32.4 points to 6825.8 with all sectors ending in the green accept Metals and Mining which was slightly lower. The IT and Telecoms sectors led the charge higher both ending up 1.85% and 1.54% respectively. Rising stocks outnumbered declining ones by 691 to 535 and 387 ended unchanged. Asia was lower as they await further news on trade and as issues continue in Hong Kong.

The ASX200 is expected to open up 30/35 points and a run into new all time highs after a strong night on the SPI200.


AUD Building Approvals 11:30am

JPY Monetary Policy Statement, Policy Rate and BOJ Outlook Tentative

EUR French Gov Budget Balance 4:45pm

EUR German Prelim CPI All Day

USD Personal Spending and Income 10:30pm

USD Consumer Confidence and Pending Home Sales 12am