The Morning Jumpstart


  • SPI200 overnight futures up 22 pts to 6180
  • SP500 up 11.12 pts to 2809.55
  • NASDAQ up 49.40 pts to 7855.12
  • FTSE100 up 25.88 pts to 7626.33
  • DAX30 up 100.52 pts to 12661.54
  • GOLD futures down $12.30 to $1227.40 an ounce
  • COPPER futures down $2.00 to $274.45 a pound
  • OIL futures down $0.45 to $67.61 a barrel
  • CRB Index down 0.08 pts to 191.09
  • AUDUSD trading at 0.7388
  • EURUSD trading at 1.1659
  • GBPUSD trading at 1.3109
  • USDJPY trading at 112.8800

US managed to finish the session in the green to erase the previous sessions minor losses. The DOW was up 55.53 points or 0.22% while the SP500 closed up 0.40% and the Nasdaq up 0.63%. Earnings kicked into top gear with some strong results from Johnson & Johnson while Netflix did not fare so well missing estimates. A vote of support from the Fed Reserve on the strength of the US economy supported buyers. Powell, in prepared remarks, said that he believed the ‘economy was doing well and that an era of stable growth may continue’. In Europe shares were higher in a choppy session buoyed by the upbeat comments from the US Fed.

Cryptocurrencies were very strong overnight as Bitcoin broke back above the $7000 level currently trading at $7318.2 up 14.18%. Ethereum is at $500.16 up 13.75% and Ripple is at $0.50914 up 12.67%.

The USD rallied on the back of positive comments from Fed Chair Powell. In a written testimony, Powell said that the economy was benefiting from continued strength in the jobs market and inflation holding around the Feds’s target of 2%. The EUR, AUD and the GBP all lost ground thanks to the strength in the USD.

Gold was battered on USD strength as buyers continue to flow into the dollar as a safe haven against trade uncertainty and economic strength. Copper also continued the push lower pressured by the USD and a slowdown in the Chinese economy. Oil finished with minor losses after the previous sessions slide as traders look ahead to inventory data which may produce a nice buy opportunity if the data shows a further decline in stockpiles.

Locally, Aussie shares had another rough day to buck the global trend as losses in Energy and Resources weighed on sentiment thanks to a drop in Oil and Commodities. Declining stocks outnumbered rising ones by 671 to 511 and 349 ended unchanged. Chinese shares continued to come under pressure as the economy expanded at a slower pace than expected which also kept buyers out of our local market.

The ASX200 is expected to open up 25 points as the European and US sessions drag the SPI200 higher off its daily lows.



AUD  MI Leading Index 10:30am

GBP  CPI and PPI data 6:30pm

EUR  Final CPI 7pm

USD  Building Permits and Housing Starts 10:30pm

USD  Fed Chair Powell Testifies 12am

USD  Crude Oil Inventories 12:30am

USD  Beige Book 4am