The Morning Jumpstart


  • SPI200 overnight futures down 12 pts to 6180
  • SP500 down 2.88 pts to 2798.53
  • NASDAQ down 20.26 pts to 7805.72
  • FTSE100 down 61.42 pts to 7600.45
  • DAX30 up 20.29 pts to 12561.02
  • GOLD futures down $0.20 to $1241.00 an ounce
  • COPPER futures down $0.80 to $276.75 a pound
  • OIL futures down $3.01 to $68.00 a barrel
  • CRB Index down 2.56 pts to 191.17
  • AUDUSD trading at 0.7421
  • EURUSD trading at 1.1713
  • GBPUSD trading at 1.3241
  • USDJPY trading at 112.2600

US closed lower as gains in financials were offset by weaker oil prices which weighed on energy shares. The DOW was up 44.95 points or 0.18% while the broader SP500 was down 0.10% and the Nasdaq was also lower 0.26%. Strong results from Bank Of America reinforced sentiment for a solid earnings season while Netflix missed expectations after hours to drag the Nasdaq lower. Trading volume was light as traders avoid taking too much risk as the earnings season gets under way and trade war concerns continue to pressure sentiment. Traders will also be focused on Fed Reserve Chair Powell’s testimony on the economy tonight and also any further rhetoric on trade especially from company management. In Europe shares were dragged lower by a weaker energy sector.

Cryptocurrencies had a solid night to change the flow of sentiment as Bitcoin trades at $6666.2 up 4.22%. Ethereum is trading at $476.44 up 4.79% while Ripple is at $0.47186 up 4.94%.

The USD continued to edge lower as traders paired back their long bets on the currency. Traders are still caught between buying on a solid interest rate outlook or selling as trade concerns may pressure further growth. The EUR and the GBP gained ground as the USD fell while the AUD remained unchanged as commodity indexes continued to remain under pressure.

Gold was relatively unchanged as safe haven buyers stayed on the sidelines. Copper continued to head south as buyers stayed out of the action as they await further news on the trade war front. Oil fell out of the sky as Libyan ports reopened and traders eyed potential supply increases by Russia and other producers.

Locally, the ASX200 was dragged lower yesterday by losses in healthcare stocks and banks as property auction results continue to deteriorate. CBA and NAB led the charge lower down 0.8% and 0.7% respectively. Declining stocks outnumbered rising ones by 602 to 573 and 352 ended unchanged.

The ASX200 is expected to open down 10 points as the SPI200 got off to a bad start to the week and continued the move lower through the European and US sessions.



NZD  CPI 8:45am

AUD  Monetary Policy Meeting Minutes 11:30am

GBP  BOE Gov Carney Speaks 6pm

GBP  Average Earnings Index, Claimant Count and Unemployment Rate 6:30pm

USD  Industrial Production and Capacity Utilization Rate 11:15pm

USD  Fed Chair Powell Testifies 12am