The Morning Jumpstart


  • SPI200 overnight futures up 12 pts to 6137
  • SP500 up 4.73 pts to 2767.32
  • NASDAQ up 55.93 pts to 7781.52
  • FTSE100 up 23.55 pts to 7627.40
  • DAX30 up 17.19 pts to 12695.16
  • GOLD futures down $8.60 to $1270 an ounce
  • COPPER futures down $1.00 to $306.00 a pound
  • OIL futures up $1.15 to $66.22 a barrel
  • CRB Index up 1.16 pts to 194.98
  • AUDUSD trading at 0.7371
  • EURUSD trading at 1.1575
  • GBPUSD trading at 1.3175
  • USDJPY trading at 110.3500

The US generally closed higher being lifted by rise in large cap tech stocks as the Nasdaq closed at a record high. The DOW was down 42.41 points or 0.17% while the broader SP500 was up 0.17% and leading the way Nasdaq was up 0.72%. The DOW was hampered by continued trade war and tariff concerns as traders await to see how Trump may react with further tariff threats. Central Bankers warned that policy may have to change to accommodate a downgrade in their outlook on global growth due to growing trade war tensions. Steps may already be taken by business to postpone hiring, investment and making decisions which will hit corporate earnings. In Europe shares enjoyed a rebound although it was muted on continued concerns over the US and China trade spat.

Cryptocurrencies held onto gains with Bitcoin currently trading at $6749.5 up 0.56% while Ethereum is at $532.93 up 0.21% and Ripple at $0.53706 down 0.76%.

The USD index was steady against a basket of currencies hovering around an 11 month high. The EUR and the GBP were both slightly lower from the same time yesterday while the YEN edged higher. The AUD , which is seen as a proxy towards China and commodities, also edged lower as traders await round two of tariff news.

Gold resumed its move lower as the USD hovers around highs. Copper was lower as traders still struggle with trade war concerns and don’t see any immediate reason to buy. Oil had a good night after US inventory numbers were higher and OPEC may look for a modest rise in output although Russia and Saudi Arabia are pushing for a steep increase in production. Major consumers such as the United States and China are pushing for OPEC to cool oil prices and support the global economy.

Locally, we enjoyed a strong session as we near the end of the financial year. The ASX200 closed above the all important 6150 resistance level as banks continued to bounce and led the charge higher. Asian stocks picked up in afternoon trade after a weak morning session as bargain hunters looked to pick up cheap stocks.

The ASX200 is expected to open up around 10 points higher as the SPI200 holds onto gains made during yesterdays day session. The ASX200 will have a delayed staggered open as the SPI200 futures rollover into the September contract.



NZD  GDP 8:45am

AUD  RBA Bulletin 11:30am

CHF  SNB Financial Stability Report 2:30pm

CHF  SNB Monetary Policy Assessment and Libor Rate 5:30pm

CHF  SNB Press Conference 6:30pm

GBP  Public Sector Net Borrowing 6:30pm

OPEC and Euorgroup Meetings ALL DAY

EUR  German Buba President Weidmann Speaks 7:45pm

GBP  Official Bank Rate and Monetary Policy Summary 9pm

USD  Unemployment Claims and Philly Fed Manufacturing Index 10:30pm

GBP  BOE Gov Carney Speaks 6:15am