The Morning Jumpstart


  • SPI200 overnight futures up 2 pts to 5841
  • SP500 up 43.71 pts to 2656.87
  • NASDAQ up 143.96 pts to 7094.30
  • FTSE100 up 72 pts to 7266.75
  • DAX30 up 135.57 pts to 12397.32
  • GOLD futures up $3.00 to $1343.10 an ounce
  • COPPER futures up $6.25 to $313.95 a pound
  • OIL futures up $2.16 to $65.58 a barrel
  • CRB Index up 2.15 to 197.11
  • AUDUSD trading at 0.7762
  • EURUSD trading at 1.2353
  • GBPUSD trading at 1.4176
  • USDJPY trading at 107.2300

The US closed out the session with healthy gains as China’s President Xi Jinping eased trade tensions in a speech seen as an attempt to defuse an escalating trade dispute with the US. The rally started in the Asian session and continued through European and into US sessions with the DOW up 428.90 points or 1.79% while the NASDAQ was up 2.07% and the SP500 up 1.67%. Trump responded in a tweet saying ‘he was “thankful” for the Chinese leader’s kind words’ and ‘We will make great progress together’.  In Europe markets continued the strength from the Asian session as China promised to open up its economy. Gains were widespread with the FTSE up 1.00% and the DAX up 1.11%.

Cryptocurrencies managed to follow the share market higher and put on gains with Bitcoin still holding below $7000 at $6867 up 2.72% while Ethereum was up 5.38% and Ripple up 2.79%.

The USD index was again weaker against a basket of major trading pairs.  The EUR gained on the weaker USD and was also supported by the potential that the ECDs bond buying program could be wound back by the paving the way for rate rises.  The GBP and the AUD also gained on the back of further USD weakness with the AUD also benefiting as a relatively high yielding currency and a rally in commodities.

Gold managed to gain further ground on a weaker USD and strength in commodities across the board. Oil had a strong session to close up nearly 3.5% on a weaker USD and Middle East tensions supporting supply constraints. Copper also had a big night as trade tensions eased and commodities rallied on a weaker USD all pointing to increased demand from China the worlds largest consumer.

The ASX200 is expected to open flat to up 5 points on strength in European and US equity markets and China trade tensions ease.




CNY  CPI and PPI Data 11:30am

AUD  RBA Gov Lowe Speaks 3pm

GBP  Manufacturing Production, Goods Trade Balance, Construction Output and Industrial Production 6:30pm

EUR  ECB President Draghi Speaks 9pm

USD  CPI Data 10:30pm

USD  Crude Oil Inventories 12:30am

USD  FOMC Meeting Minutes and Federal Budget Balance 4am