The Morning Jumpstart


  • SPI200 overnight futures up 26 pts to 6250
  • SP500 up 23.21 pts to 2759.82
  • NASDAQ up 101.96 pts to 7688.39
  • FTSE100 up 14.48 pts to 7617.70
  • DAX30 up 31.88 pts to 12496.17
  • GOLD futures down $2.90 to $1255.90 an ounce
  • COPPER futures down $0.65 to $281.95 a pound
  • OIL futures up $0.98 to $73.92 a barrel
  • CRB Index up 1.85 pts to 198.05
  • AUDUSD trading at 0.7430
  • EURUSD trading at 1.1746
  • GBPUSD trading at 1.3283
  • USDJPY trading at 110.4700

The US ended the week on a strong note largely brushing off a trade war between the US and China. The DOW was up 99.74 points or 0.41% while the SP500 was up 0.85% and the Nasdaq up 1.34%. Tariffs kicked off between the US and China which kept the bulls in check after employment data came out stronger then expected. Non-farm payrolls were out up 213K versus 195K expected showing strong employment conditions. Trump has warned that the US may target over $500 Billion of Chinese goods for further tariffs. In Europe shares were buoyant to shrug off trade war fears as $34 Billion of tariffs from the US and China were already factored into prices.

Traders remain hopeful that the current trade dispute will not explode into a full on trade war between the US and China which may only be a ‘tweet’ away. European traders still believe that the EU will stay on the sidelines of a trade war and that it is just a negotiating tactic.

Cryptocurrencies are still showing some strength as Bitcoin is currently trading at $6769.5 up 3.19% while Ethereum is at $489.54 up 4.99% and Ripple at $0.48620 up 3.65%.

The USD index weakened against other major currency pairs after US employment data beat expectations. The EUR, the GBP and the AUD were all higher on USD weakness after data showed the US unemployment rate increased and wages grew less than forecast in June even as the economy created more jobs than expected.

Gold gave up some of the recent gains to finish lower as global shares pushed higher. Copper being the barometer of world economic strength, continued to fall as tariffs became a reality. Oil pressed higher to finish the week on a stronger note being helped along by the weakness in the USD.

Locally, shares ended the week higher on Friday as financials gained. A bounce in Chinese shares helped the Aussie market after they have taken a beating in recent sessions. Miners recovered somewhat in Fridays trade to help boost the Index. Advancing stocks outnumbered falling ones by 638 to 471 and 376 ended unchanged.

The ASX200 is expected to open up 25 points after the SPI200 was dragged higher through the US session on stronger US employment data.



JPY  BOJ Gov Kuroda Speaks 10:30am

EUR  German Trade Balance 4pm

GBP  MPC Member Broadbent Speaks 5:50pm

EUR  ECB President Draghi Speaks 11pm

EUR  ECB President Draghi Speaks 1am

USD  Consumer Credit 5am