The Morning Jumpstart


  • SPI200 overnight futures up 16 pts to 6227
  • SP500 up 9.67 pts to 2793.84
  • NASDAQ up 3.00 pts to 7759.20
  • FTSE100 up 4.05 pts to 7692.04
  • DAX30 up 65.96 pts to 12609.85
  • GOLD futures down $3.80 to $1255.80 an ounce
  • COPPER futures down $2.00 to $283.00 a pound
  • OIL futures up $0.36 to $74.21 a barrel
  • CRB Index up 0.06 pts to 198.29
  • AUDUSD trading at 0.7441
  • EURUSD trading at 1.1741
  • GBPUSD trading at 1.3278
  • USDJPY trading at 110.9800

The US shares were higher as traders got their first taste of earnings with PepsiCo beating expectations. The DOW was up 143.07 points or 0.58% while the SP500 was up 0.35% and the Nasdaq lagged up only 0.04%. Higher Oil prices also helped the positive sentiment as traders gear up for a strong second quarter earnings. Risk appetite increased on the belief that global economic growth can withstand trade tensions and further tit-for-tat tariffs. In Europe shares were again higher lifted by sentiment on strong economic growth and an absence of ‘bad news’ on tariffs.

Cryptocurrencies found weakness to retrace some of the previous move higher as Bitcoin trades at $6373.8 down 5.50% while Ethereum is at $439.97 down 8.46% and Ripple is at $0.44923 down 6.36%.

The USD index was stronger to continue on from the previous session as traders brushed off trade tensions. The EUR and the AUD were both slightly weaker against the USD. The GBP bounced back from fears that cabinet resignations could lead to rebellion in the ruling party’s ranks as traders focused on a potential BOE rate rise in August.

Gold was weaker as the strength in the USD pressured gold bulls. Copper reversed the previous sessions gains to push lower. Oil continued to edge higher on supply tightening as further disruptions and supply concerns in Norway and Libya brought in buyers. Traders will be awaiting US inventory data out tonight which is expected to show a significant drop in supply.

Locally, the ASX200 was dragged lower as banks ran out of puff from a recent strong rally. CBA was the biggest drag on the sector ending down 2.2% while WBC fell 1.0%. Some support for shares was found from higher base metal and Iron prices which lifted materials stocks. Advancing stocks outnumbered falling ones by 656 to 560 and 337 ended unchanged.

The ASX200 is expected to open up 15/20 points as the SPI200 rebounded after hours from a negative session during the day.



AUD  Westpac Consumer Sentiment 10:30am

AUD  Hone Loans 11:30am

EUR  ECB President Draghi Speaks 5pm

USD  PPI Data 10:30pm

CAD  BOC Overnight Rate, Rate Statement and Monetary Policy Report 12am

USD  Final Wholesale Inventories 12am

USD  Crude Oil Inventories 12:30am

CAD  BOC Press Conference 1:15am

GBP  BOE Gov Carney Speaks 1:35am

USD  FOMC Member Bostic Speaks 2:30am