The Morning Jumpstart


  • SPI200 overnight futures up 26 pts to 6223
  • SP500 down 8.63 pts to 2837.44
  • NASDAQ down 80.06 pts to 7852.18
  • FTSE100 up 4.91 pts to 7663.17
  • DAX30 up 229.90 pts to 12809.23
  • GOLD futures down $9.70 to $1222.10 an ounce
  • COPPER futures (Comex) down $0.011 to $2.80 a pound
  • OIL futures (Nymex) up $0.28 to $69.58 a barrel
  • CRB Index up 0.34 pts to 194.99
  • AUDUSD trading at 0.7381
  • EURUSD trading at 1.1642
  • GBPUSD trading at 1.3108
  • USDJPY trading at 111.2300

The US had a mixed result with the DOW closing higher while the tech sector backed off and the broader market was lower. The DOW was up 112.97 points or 0.44% while the broader market SP500 was down 0.30% and the Nasdaq also down 1.01%. A plunge in the price of Facebook triggered selling and profit taking in the sector as the big boys in the tech sector trade well ahead of earnings. As trade war tensions ease with Europe, attention turns back to China as the US may now have an ally in Europe to pressure the Chinese government. In Europe German shares were strong making up for gains in the US the previous night while London’s FTSE100 Index lagged. Shares were generally buoyed buy the trade truce between the US and the EU as car makers breath a sigh of relief.

Cryptocurrencies ease although Bitcoin is still holding above $8000 as traders await a potential ETF. Bitcoin is trading at $8001 down 2.40% while Ethereum is at $465.79 down 2.11% and Ripple trading at $0.45273 down 2.71%.

The USD Index regained lost ground to finish higher as traders focus back on US economic strength.  The EUR fell as the ECB held tight to its easy monetary policy and signaled no change in its timetable to move away from its ultra low rate policy and to end its asset bond purchase program. ECB president Draghi was positive about inflation reaching target but remained cautious regarding trade headwinds. The GBP and AUD both fell on the back of the stronger USD.

Gold continued to fall out of love with traders as price headed lower thanks to a bounce in the USD. Copper was lower as trade focus is back on the US and China. Oil continued to edge higher helped along by USD weakness and also as US inventories came in lower than expected the previous session.

Locally, the ASX200 was little changed at the close after initially being pressured lower from the open. Gold companies gained as the sector climbed on the back of strong Spot Gold prices the previous night although we may see some gains given up today. Energy sector gained as Oil continues to edge higher after Saudi Arabia suspended crude shipments through a strategic Red Sea shipping lane. Advancing stocks outnumbered falling ones by 652 to 544 and 349 ended unchanged.

The ASX200 is expected to open up 25/30 points after the SPI200 recovered the days losses overnight. The recent opens have been against the trend so we may see another bout of selling on the open today as trade tensions with China are back in focus.



AUD  PPI Data 11:30am

EUR  German Import Prices 4pm

USD  Advance GDP 10:30pm

USD  Consumer Sentiment and Inflation Expectations 12am