The Morning Jumpstart


  • SPI200 overnight futures up 35 pts to 6154
  • SP500 down 5.91 pts to 2773.75
  • NASDAQ up 0.65 pts to 7747.02
  • FTSE100 down 2.58 pts to 7631.33
  • DAX30 down 176.44 pts to 12834.11
  • GOLD futures up $2.10 to $1280.60 an ounce
  • COPPER futures down $1.85 to $312.60 a pound
  • OIL futures up $0.77 to $65.83 a barrel
  • CRB Index down 0.05 pts to 196.18
  • AUDUSD trading at 0.7424
  • EURUSD trading at 1.1621
  • GBPUSD trading at 1.3244
  • USDJPY trading at 110.5600

The US closed lower as China’s retaliation to US tariffs filtered through the market. The DOW was down 103.01 points or 0.41% while the SP500 down 0.21% although the Nasdaq held up to finish in the green up 0.01%. The fact that escalating trade war concerns has not had as big an impact on the downside as expected, means that traders may be viewing Trumps moves as all part of an overall negotiating strategy. In Europe shares were weaker to continue the push lower on trade tensions that keep traders on edge. European shares followed on from losses in Asia and continued into a weak open in the US.

Cryptocurrencies had a positive session overnight pushing higher across the board. Bitcoin is currently trading at $6724.5 up 3.16% while Ethereum is at $518.36 up 3.58% and Ripple at $0.54169 up 2.27%.

The USD edged lower again pressured by safe haven buying into the Yen. The EUR edged higher from this time yesterday but was weighed down by a dispute in Germany’s governing coalition and expectations the European Central Bank will hold interest rates steady into 2019. The GBP and the AUD continued to be pressured lower.

Gold saw some profit taking on a minor bounce to finish slightly higher. Copper continued to edge lower as buyers held back on continued uncertainty over trade tensions with Coppers biggest importer China. Oil managed to bounce back and finish with some gains as traders bet that OPEC production increase will be smaller than expected.

Locally, shares had another good session yesterday led higher by gains in Healthcare and Financials. Buyers stepped back into banks but it may be still early days for traders to change their negative tune.

The ASX200 is expected to open up 30/35 points as the SPI200 holds onto gains into the US session close.



AUD  Monetary Policy Meeting Minutes 11:30am

AUD  HPI 11:30am

EUR  ECB President Draghi Speaks and Current Account 6pm

USD  Building Permits and Housing Starts 10:30pm