The Morning Jumpstart


  • SPI200 (Sep) overnight futures down 7 pts to 6667
  • SP500 down 2.18 pts to 3007.39
  • NASDAQ down 17.75 pts to 8176.71
  • Dow Jones up 37.07 pts to 27,219.52
  • FTSE100 up 22.79 pts to 7367.46
  • DAX30 up 58.28 pts to 12,468.53
  • GOLD futures US Session (December) down $7.90 to $1499.50 an ounce
  • COPPER futures US Session (Comex Dec) up $0.0640 to $2.7040 a pound
  • OIL futures US Session (Nymex Oct) down $0.24 to $54.85 a barrel
  • CRB Index up 0.33 pts to 174.79
  • AUDUSD trading at 0.6879
  • EURUSD trading at 1.1073
  • GBPUSD trading at 1.2501
  • USDJPY trading at 108.0900
  • USD Index (ICE Sept) trading at 97.860 down 0.450

US Indexes ended the week on a flat note as the broader market SP500 edged lower into the close. A solid US retail report prior to the US open could not buoy the momentum as traders were happy to take some risk off into the weekend. Buyers have had a solid week thanks to improved sentiment over the trade war as the US and China talk up coming trade talks. The DOW closed up 0.14% while the broader SP500 was down 0.07% and the Nasdaq also ended down 0.22%. In Europe, Indexes ended the week on a high as bank stocks helped to support the gains after the ECB eased the terms of its long term loans to banks to offset the pain of negative rates. Other stocks that have done well on the change in sentiment are miners and automakers as traders move out of defensive stocks and into momentum stocks in search of yield.

Over the weekend tensions between the US and Iran have increased after the US accused Iran of attacks on Saudi Arabia’s oil facilities on Saturday that has threatened global oil supplies. The strike on the heartland of Saudi Arabia’s oil industry, which included damage to the world’s biggest petroleum-processing facility, was expected to send oil prices up $5 to $10 per barrel and inflame tensions across the Middle East. Some sources say that oil could spike as high as $100 if Saudi Arabia does not bring supply back online quickly as getting back to full capacity could take weeks not days. Other sources suggest that Saudi exports would continue as normal this week thanks to storage in the kingdom that can take up the slack.

The USD moved lower Friday into the close and could not hold onto the gains after retail sales data came in weaker than expected prior to the session open. The EURO moved lower after retails sales as the USD kicked higher but could not make back the losses into the weekend close. The GBP powered higher from the open of the European session on hopes of an orderly Brexit see shorters squeezed. Helping the move up Friday was a newspaper report that the DUP (Northern Ireland Democratic Unionist Party) would accept Northern Ireland abiding by some EU rules after Brexit as part of a new deal in order to replace the Irish backstop. The AUD continued to be held in its recent range bound action being supported around 0.6850 and capped around 0.6890. The USDJPY saw a relatively contained session into the US close although has been hit on the open today on the back of Crude Oil worries moving the USD.

Gold moved lower Friday but has made back all of the losses plus more as Oil spiked higher on the open today and safe haven traders jump into the action on increased US and Iran tensions. Oil is set to spike on the open with CFDs prices already on the march higher. The concerns now is how long full production will take to come back and reduce the volatility into the futures price. Traders will be eagerly watching the news for further details. Copper edged higher into the close Friday although has opened weaker today on increased concerns for demand due to the uncertainty into the oil market.

Cryptocurrencies continued to remain relatively flat with Bitcoin holding around the $10310.8 zone being down 0.65%. Ethereum is trading at $189.61 up 0.80% while Ripple is currently at $0.26015 down 1.17%.

The ASX200 had a relatively flat session Friday as price hovered around breakeven for most of the session. It was not until the match where the index made up some ground to close up 14.3 points (13 of those were in the 4:10pm match) to 6669.2. The Gold sector came under pressure along with Info Tech while Industrials, Financial and Utilities helped to support the action. Rising stocks outnumbered declining ones by 595 to 594 and 366 ended unchanged.

The ASX200 is expected to open down 5/10 points although we expect to see the market on alert and under some pressure as tensions with Iran and the US intensify.


CNY Fixed Asset Investment, Industrial Production and Retail Sales 12pm

USD Empire State Manufacturing Index 10:30pm