The Morning Jumpstart


  • SPI200 overnight futures up 33 pts to 6058
  • SP500 up 6.86 pts to 2782.49
  • NASDAQ up 65.34 pts to 7761.04
  • FTSE100 up 62.08 pts to 7765.79
  • DAX30 up 216.52 pts to 13107.10
  • GOLD futures up $4.60 to $1305.90 an ounce
  • COPPER futures down $5.30 to $320.10 a pound
  • OIL futures up $036 to $67.00 a barrel
  • CRB Index down 1.08 pts to 199.01
  • AUDUSD trading at 0.7472
  • EURUSD trading at 1.1571
  • GBPUSD trading at 1.3259
  • USDJPY trading at 110.6500

The US bounced back to regain some of the losses from the previous session to close higher. The DOW was down 25.89 points or 0.10% while the broader SP500 was up 0.25% and the Nasdaq up 0.85%. US retail sales numbers smashed expectations and gave shares a kick higher. Buyers also stepped in after the ECB announced it would end its bond-purchase program at the end of the year but said that any interest rate hike was still off the cards for 2018. In Europe indexes were stronger as traders jumped into the market after the ECB unexpectedly signaled that there will be no tightening from interest rate rises in the near future…an ideal buyers environment. EU countries unanimously backed a plan to impose import duties on 2.8 billion euros worth of US products after Washington hit EU steel and aluminum with tariffs at the start of June.

Cryptocurrencies finally put on some gains to keep the bulls happy as Bitcoin is trading at $6657 up 5.78% while Ethereum is at $517.83 up 9.21% and Ripple is at $0.56218 up 7.61%.

The USD index was up strong as the EUR was pressured lower. Buyers were caught by surprise and squeezed out of the market as the EUR dropped like a stone as sellers loaded up on shorts as expectations for a rate rise from the ECB were squashed. The GBP and the AUD also dropped on the back of the strong rise in the USD.

Gold managed to edge higher while Copper had a rough night to finish weaker on a rise in the USD. Oil continued to edge higher at the close after US inventories were more negative than expected yesterday.

Locally, shares were lower after employment data came out weaker than expected. Financials led the charge lower as news from the Royal commission continued to pressure the sector. The commission heard evidence of parents losing their homes and assets after their children’s business loan did not succeed. Trade was muted ahead of the ECB statement so we expect to see buyers step back in today to finish the week on a positive note.

The ASX200 is expected to open up around 35 points as the SPI200 was dragged higher overnight during the European and US sessions.



NZD  Business NZ Manufacturing Index 8:30am

AUD  RBA Assist Gov Ellis Speaks 1:30pm

JPY  Monetary Policy Statement and BOJ Policy Rate Tentative

JPY  BOJ Press Conference Tentative

EUR  Final CPI Data and Trade Balance 7pm

CAD  Manufacturing Sales 10:30pm

USD  Empire State Manufacturing Index 10:30pm

USD  Capacity Utilization Rate and Industrial Production 11:15pm

USD  Prelim Consumer Sentiment 12am