The Morning Jumpstart


  • SPI200 overnight futures down 8 pts to 6204
  • SP500 down 11.13 pts to 2804.49
  • NASDAQ down 29.15 pts to 7825.30
  • FTSE100 up 7.69 pts to 7683.97
  • DAX30 down 79.65 pts to 12686.29
  • GOLD futures down $5.20 to $1222.70 an ounce
  • COPPER futures down $4.20 to $271.80 a pound
  • OIL futures up $0.63 to $69.39 a barrel
  • CRB Index down 0.06 pts to 191.42
  • AUDUSD trading at 0.7356
  • EURUSD trading at 1.1644
  • GBPUSD trading at 1.3014
  • USDJPY trading at 112.4400

US Indexes were lower overnight on disappointing earnings and renewed trade war concerns. The DOW was down 134.79 points or 0.53% while the SP500 closed down 0.40% and the Nasdaq also closed lower by 0.37%. The EU may be preparing a retaliatory response to the US proposed tariffs on EU cars while China took issue with US comments blaming China’s president for blocking a trade deal. In Europe shares were were lower after a mixed bag of company results and as metals prices continued to selloff.

Cryptocurrencies were mixed as Bitcoin edged higher currently trading at $7457.7 up 1.62% while Ethereum is at $468.96 down 1.57% and Ripple is trading at $0.47935 down 1.07%.

The USD continued to rally thanks to underlying strength in the US economy and a vote of confidence from Fed Chair Powell. Although the Dollar was higher, it did give up some gains after Trump expressed concerns about interest rate hikes. The EUR was unchanged by the end of the session from the same time yesterday while the GBP was lower on USD strength. The AUD reversed previous sessions gains on continued trade war concerns and weakness in commodities as it gave up all gains and more made after stronger than expected employment data during the days session.

Gold sellers were back pushing price lower as the USD focus continues to be the main driver of lower prices even in an uncertain environment. Copper continued to come under pressure from fund selling and worries over declining demand from powerhouse importers. Oil was higher helped along by USD strength.

Locally, strong employment data came out to beat expectations but did little to extend gains in shares. Shares are still capped by trade war fears as China absorbs a major portion of Australian commodity exports and is relied on for growth. Banks were higher while gold stock suffered as Gold continues to fall. Advancing stocks outnumbered falling ones by 639 to 548 and 388 ended unchanged.

The ASX200 is expected to open down 10 points as the SPI200 was pressured lower overnight.



EUR  German PPI 4pm

EUR  Current Account 6pm

GBP  Public Sector Net Borrowing 6:30pm

Day 1 G20 Meetings

CAD  CPI Data and Retails Sales 10:30pm