The Morning Jumpstart


  • SPI200 overnight futures down 11 pts to 6127
  • SP500 down 23.43 pts to 2699.63
  • NASDAQ down 116.54 pts to 7445.09
  • FTSE100 up 83.77 pts to 7621.69
  • DAX30 down 114.27 pts to 12348.61
  • GOLD futures down $6.10 to $1253.80 an ounce
  • COPPER futures down $1.80 to $299.75 a pound
  • OIL futures up $1.77 to $72.30 a barrel
  • CRB Index up 1.70 pts to 198.95
  • AUDUSD trading at 0.7345
  • EURUSD trading at 1.1559
  • GBPUSD trading at 1.3120
  • USDJPY trading at 110.2500

The US had a choppy session as prices went from weakness to strength to start the session and then sold off into the close to finished lower. The DOW was down 165.52 points or 0.68% while the SP500 was down 0.86% and the Nasdaq down 1.54%. Trade war concerns were again in the minds of traders as Trump said he will use a strengthened national security review panel (CFIUS) to deal with potential threats from Chinese acquisitions of U.S. technology. This was seen as a positive on China relations but then a White House economic adviser killed the mood later saying the plan did not indicate a softened stance on China. In Europe markets were also choppy being sold off on the open and then rallied to close higher before the US proceeded to fall. Fresh optimism in Europe may be short lived as Stock Indexes closed prior to the US selloff.

Cryptocurrencies were slightly lower with Bitcoin trading at $6128.9 down 1.06% while Ethereum is at $434.64 down 1.36% and Ripple fairing better at $0.46900 down 0.04%.

The USD index was propelled higher by some strong economic data as traders focus back on rising interest rates. US Bonds were higher, which helped the USD, as traders sought the safety of Government bonds and exited riskier assets. The EUR along with the GBP were both lower on USD strength and uncertainty over trade. The AUD was also lower on a stronger USD and as commodities weakened as trade war concerns continue.

Gold was lower as prices remained under pressure on strong US economic data which supported a rise in the USD. Copper pushed lower again over uncertainty between the US and China. Oil continued its move higher backing up with another strong session closing up over 2.5%.

Locally, shares were lower at the close of trade yesterday as declining stocks outnumbered rising ones by 722 to 560. Strength in the energy and materials sectors were offset by weakness in banks and industrials.

The ASX200 is expected to open down around 10 points after the SPI200 managed to pull through a choppy session relatively unscathed.



EUR  German Prelim CPI  All Day

EUR  Spanish Flash CPI 5pm

EUR  ECB Economic Bulletin 6pm

EUR  Italian Prelim CPI 7pm

USD  Final GDP and Unemployment Claims 10:30pm

GBP  MPC Member Haldane Speaks 11:30pm

USD  FOMC Member Bostic Speaks 2am