The Morning Jumpstart


  • SPI200 overnight futures down 11 pts to 6051
  • SP500 down 1.98 pts to 2770.37
  • NASDAQ down 54.17 pts to 7635.07
  • FTSE100 down 7.97 pts to 7704.40
  • DAX30 down 19.02 pts to 12811.05
  • GOLD futures down $0.30 to $1301.10 an ounce
  • COPPER futures up $0.10 to $326.30 a pound
  • OIL futures up $1.21 to $65.94 a barrel
  • CRB Index up 0.47 pts to 199.49
  • AUDUSD trading at 0.7623
  • EURUSD trading at 1.1801
  • GBPUSD trading at 1.3423
  • USDJPY trading at 109.6800

The US major Indexes were a mixed bag overnight as the tech sector came under pressure after hitting recent new highs. The DOW was up 95.02 points or 0.38% with the SP500 slightly down 0.07% and the Nasdaq also lower by 0.70%. Shares rebounded from mid session lows as traders kept an eye on global trade tensions ahead of G7 Summit at which Trump is expected to stick to his guns on a tough trade stance. Traders are also focused on the ECB and US Reserve Bank meetings next week for for further details on interest rates. In Europe lower at the end of a choppy session. Energy stocks and banking stocks, helped by stronger yields on bonds, supported the market and helped to limit losses.

Cryptocurrencies had another relatively flat session as Bitcoin currently trades at $7678 up 0.15% while Ethereum is at $602 down 0.81% and Ripple at $0.67139 down 0.05%.

The USD index was lower again being pressured by a stronger Euro and also by a fall in US bond yields. The EUR continued to find strength as traders bet on an ECB stimulus wind-down. The GBP was also stronger for the session while the AUD fell both in the Aussie day session and again in the US session as trade balance data was lower yesterday.

Gold was relatively unchanged for the session holding around the $1300 mark. Copper took a breather from its recent strong gains over the last few session but held onto highs. Traders will be watching closely for a pullback to trigger profit taking. Oil was stronger to reverse recent weakness helped by a weaker USD and concern on a steep drop in Venezuela exports.

Locally, trade balance data out yesterday showed that exports dropped by 2.0% y/y while imports remained unchanged. The ASX200 yesterday was led higher by materials stocks and Banks as AMP continued to come under pressure as the company confirmed it had been served with another class action proceeding in Australia’s Federal Court.

The ASX200 is expected to open down 5/10 points after the SPI200 found sellers to push price down into the US session close.



JPY  Bank Lending, Current Accout and GDP Data  9:50am

CNY  Trade Balance  Tentative

EUR  German Industrial Production and Trade Balance 4pm

EUR  French Industrial Production 4:45pm

CAD  Employment Change and Employment Rate 10:30pm

USD  Final Wholesale Inventories 12am