The Morning Jumpstart


  • SPI200 overnight futures down 5 pts to 6022
  • SP500 down 11.22 pts to 2775.63
  • NASDAQ down 8.10 pts to 7695.70
  • FTSE100 down 0.10 pts to 7703.71
  • DAX30 up 48.28 pts to 12890.58
  • GOLD futures up $3.60 to $1303.00 an ounce
  • COPPER futures up $0.85 to $325.80 a pound
  • OIL futures up $0.26 to $66.62 a barrel
  • CRB Index down 0.05 pts to 200.09
  • AUDUSD trading at 0.7577
  • EURUSD trading at 1.1790
  • GBPUSD trading at 1.3373
  • USDJPY trading at 110.3700

The US was weaker into the close after the Fed Reserve lifted rates by 0.25% as expected. The DOW was down 119.53 points or 0.47% while the SP500 was down 0.40% and the Nasdaq down 0.11%. In a statement Fed Chair Powell said that the economy is doing very well and they are happy with inflation above the 2% target. The labor market continues to do well as economic activity is rising and fixed investment continues to grow. Bond yields jumped into the close as bond prices fell with traders eyeing a push back above the 3.00% zone. In Europe indexes were mixed ahead of the US Fed Reserve meeting with the DAX30 closing higher while the FTSE100 was flat.

Cryptocurrencies continues to move lower with Bitcoin trading at $6264 down 4.41%. Ethereum is trading at $470 down 4.38% and Ripple is at $0.5193 down 6.54%.

The USD index finished lower as the US lifted rates as expected but gave no sign of a fourth rise for the year. The EUR gained ground to hold onto gains after the rate announcement as traders look to the ECB press conference and interest rates tonight. The GBP and the AUD were both unchanged at the close of a choppy session.

Gold managed to put on some gains helped by a lower USD and as traders potentially look for further pressure in equities as the cost of debt rises. Copper was higher also helped by the weaker USD. Oil was higher at the close as US inventories were more negative than expected.

Locally, shares were lower yesterday with Banks and Commodity stocks leading the way as traders looked ahead to interest rates and trade war concerns continued. Government pay rises will make Australia’s highest earning public servant role worth $896,400. Australia’s largest gas network operator APA is considering an unsolicited $13b takeover bid from Hong Kong based company CK Infrastructure.

The ASX200 is expected to open flat as the SPI200 saw a choppy session overnight well contained between the days lows around 6012 and resistance at 6040.



AUD  Employment Change and Unemployment Rate 11:30am

CNY  Fixed Asset Investment, Industrial Production and Retails Sales 12am

EUR  German Final CPI 4pm

GBP  Retail Sales 6:30pm

EUR  Main Refinancing Rate 9:45pm

EUR  ECB Press Conference 10:30pm

USD  Retail Sales Data and Unemployment Claims 10:30pm