The Morning Jumpstart


  • SPI200 overnight futures down 56 pts to 6099
  • SP500 down 37.81 pts to 2717.07
  • NASDAQ down 160.81 pts to 7532.01
  • FTSE100 down 172.43 pts to 7509.84
  • DAX30 down 309.39 pts to 12270.33
  • GOLD futures down $3.40 to $1267.30 an ounce
  • COPPER futures down $4.20 to $300.70 a pound
  • OIL futures down $0.39 to $68.19 a barrel
  • CRB Index down 2.19 pts to 195.34
  • AUDUSD trading at 0.7414
  • EURUSD trading at 1.1704
  • GBPUSD trading at 1.3281
  • USDJPY trading at 109.7700

The US markets were thumped overnight by increasing trade war fears as Trump takes on the world. The DOW was down 328.09 points or 1.33% while the SP500 was down 1.37% and the NASDAQ down 2.09%. The markets were pummeled in early trade on reports that the US Treasury department was drafting curbs that would block firms with at least 25% Chinese ownership from buying US tech firms. Some US companies also warned of higher costs as they are having to scramble to rework supply chains on shifting trade policy. In Europe markets were also beaten lower as traders grew increasingly fearful of the threat of a global trade war and its impact on the world economy as companies showed cracks appearing.

Cryptocurrencies were able to bounce slightly as Bitcoin is currently up 1.56% at $6267.4. Ethereum is trading at $460.17 up 0.82% while Ripple is at $0.48017 up 0.41%.

The USD index ended lower as trade war tensions hurt traders risk appetite. The Yen pressured the USD lower on safe haven buying. The EUR along with the GBP both pushed higher on a weaker USD. The AUD did not fair as well as the commodity currency fell along with commodity indexes.

Gold was surprisingly lower providing no safe haven for share traders and looks technically weak. Copper was again hit lower on concerns over tariffs and a trade war getting out of control. Oil gave up some of the previous sessions gains as general fear gripped the market.

Locally, share edged lower yesterday as traders shied away from taking on too much risk. Banks pressured the market as they pushed lower after a recent spike higher on bargain hunting. Gains in materials buoyed the Index to some extent but traders were still grappling with a series of scandals in the financial sector. CBA stepped up plans to spin off its wealth management business as it looks to become a smaller lending-focused bank. They also announced Monday that they will overhaul their executive ranks.

The ASX200 is expected to open down around 50/60 points as markets free fall overnight dragging the SPI200 lower.



GBP  High Street Lending 6:30pm

GBP  MPC Member Haskel Speaks 7pm

GBP  MPC Member McCafferty Speaks 7:30pm

USD  CB Consumer Confidence 12am

USD  FOMC Member Bostic Speaks 3am