The Morning Jumpstart


  • SPI200 overnight futures down 23 pts to 6003
  • SP500 up 12.25 pts to 2746.87
  • NASDAQ up 52.13 pts to 7606.46
  • FTSE100 up 39.52 pts to 7741.29
  • DAX30 up 46.48 pts to 12770.75
  • GOLD futures down $3.40 to $1295.90 an ounce
  • COPPER futures up $3.95 to $313.80 a pound
  • OIL futures down $0.93 to $64.88 a barrel
  • CRB Index down 2.85 pts to 198.86
  • AUDUSD trading at 0.7648
  • EURUSD trading at 1.1699
  • GBPUSD trading at 1.3314
  • USDJPY trading at 109.8000

The US followed up from Fridays strong rally with another good night as traders looked to continue to take on risk and betting on a continuation of strong economic growth. The DOW was up 178.48 points or 0.72% while the SP500 was up 0.45% and the Nasdaq was up 0.69%. Lingering trade disputes may continue to pressure shares down the road as China joins in with Canada, the EU and Mexico in voicing concern over impending US tariffs. In Europe share markets continued higher on the back of easing political pressure and a rise in the Euro. Merger and acquisitions news, particularly in the financial sector, helped shares push higher.

Cryptocurrencies gave up some of yesterdays gains with Bitcoin currently trading at $7552 down 2.15% while Ethereum is at $599 down 3.28% and Ripple at $0.67606 bucking the trend to trade up 1.85%.

The USD was lower for the session as easing political tensions in Italy lifted the euro and global trade war concerns continue after China warned the US against tariffs and other protectionist measures. The GBP edged lower while the EUR pushed higher as fear came out of the region. The AUD surged to its highest level since April after data showing strong corporate profits and a rise in retail sales yesterday. Traders will now be watching the RBA rate statement release at 2:30pm today.

Gold continued lower as the USD found selling pressure and commodity indexes fell.  Copper had another good night to close stronger as technical buying buoyed price. Oil continued its move south and continued to pressure the energy sector.

Locally, warm weather helped retail sales rebound in April as an extended summer saw cafes, restaurants and takeaways lead the rise. Wages in Australia rose for the March quarter buoyed by a rise in corporate profits with Mining and Construction leading the charge. The Commonwealth Bank of Australia reached a record $700M settlement to resolve AUSTRAC allegations.

The ASX200 is expected to open down 20 points after the SPI200 fell in the European and US sessions.



AUD  AIG Services Index 8:30am

AUD  Current Account 11:30am

CNY  Caixin Services PMI 11:45am

AUD  RBA Rate Statement and Cash Rate 2:30pm

GBP  Services PMI 6:30pm

EUR  Retail Sales 7pm

GBP  MPC Member Cunliffe Speaks 8pm

USD  ISM Non-Manufacturing PMI 12am

EUR  German Buba President Weidmann Speaks 3:30am