The Morning Jumpstart


  • SPI200 overnight futures up 15 pts to 6015
  • SP500 up 1.93 pts to 2748.80
  • NASDAQ up 31.40 pts to 7637.86
  • FTSE100 down 54.49 pts to 7686.80
  • DAX30 up 16.38 pts to 12787.13
  • GOLD futures up $3.40 to $1300.70 an ounce
  • COPPER futures up $7.60 to $321.05 a pound
  • OIL futures up $0.75 to $65.50 a barrel
  • CRB Index up 0.32 pts to 199.19
  • AUDUSD trading at 0.7616
  • EURUSD trading at 1.1714
  • GBPUSD trading at 1.3393
  • USDJPY trading at 109.8300

The US closed the session with mixed results as tech stocks remained traders favored buy as the Nasdaq outperformed. The DOW was down slightly 13.71 points or 0.06% while the SP500 was up 0.07% and the Nasdaq up 0.41%. Mixed news on tariffs keep markets in check and capped buying as Trump may seek separate Trade deals with Canada and Mexico. US treasury yields fell as traders jumped into safe haven assets after Italy’s new prime minister outlined new economic policies that could add to the nation’s debt. In Europe share markets were mixed with Londons FTSE100 ending lower and Germany’s Dax30 Index closing higher. The tech sector was a bright spot while the Banking sector was weighed down by Italian politics.

Cryptocurrencies had a positive night with Cryptos up across the board. Bitcoin is currently at $7613 up 0.79% while Ethereum is at $606 up 1.33% and Ripple at $0.6733 up 0.58%.

The USD ended the session lower giving up initial gains as traders eased into safe haven US bonds on further European political concerns. The GBP and the EUR were both higher at the close after Italian Prime Minister Giuseppe Conte said the government had never considered leaving the euro zone. The AUD was lower as traders locked in recent gains ahead of GDP data out today.

Gold saw some minor safe haven buying as US bonds edged higher. Copper had a big night to close up over 2% on concerns about the potential supply impact of wage negotiations at the world’s biggest copper mine. Oil bounced to close up slightly as traders covered short positions ahead of US crude oil inventories data tonight.

Locally, the RBA kept interest rates on hold at 1.50% yesterday which keeps the cost of debt low at a time when traders see a potential pickup in economic growth. It seems that the market was expecting worse for CBA as prices ended higher after a $700 million fine was locked in. ANZ executives continue to come under fire for potential criminal ‘cartel’ charges.

The ASX200 is expected to open up 12 points as the SPI200 traded in a narrow range overnight failing to find direction.



AUD  RBA Assist Gov Bullock Speaks 9am

AUD  GDP Data 11:30am

GBP  MPC Member Tenreyro Speaks 8:40pm

CAD  Trade Balance and Building Permits 10:30pm

USD  Revised Non-farm Productivity and Trade Balance 10:30pm

USD  Crude Oil Inventories 12:30am

GBP  MPC member McCafferty Speaks 2am