The Morning Jumpstart


  • SPI200 overnight futures up 19 pts to 6237
  • SP500 up 13.69 pts to 2816.29
  • NASDAQ up 41.79 pts to 7671.79
  • FTSE100 up 47.91 pts to 7748.76
  • DAX30 up 7.30 pts to 12805.50
  • GOLD futures (August) up $1.80 to $1223.10 an ounce
  • COPPER futures (Comex Sep) up $0.034 to $2.826 a pound
  • OIL futures (Nymex) down $1.73 to $68.40 a barrel
  • CRB Index down 1.22 pts to 194.53
  • AUDUSD trading at 0.7427
  • EURUSD trading at 1.1690
  • GBPUSD trading at 1.3122
  • USDJPY trading at 111.8200

The US bounced after recent sessions selling as industrials led the charge higher on renewed trade hopes. The DOW was up 108.36 points or 0.43% while the SP500 was up 0.49% and the Nasdaq gained back some lost ground closing up 0.55%. Stocks bounced after a report said that the US were seeking to resume trade talks and US Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He have been speaking privately as they seek to restart negotiations. In Europe major Indexes were buoyed by the positive news on trade giving shares a kick higher.

Bond yields eased globally as the Bank of Japan (BOJ) reassured traders that it will maintain super-easy monetary policies for an “extended period of time”.

Cryptocurrencies give up some of the recent gains as Bitcoin trades at $7710.5 down 5.80% with Ethereum trading at $431.75 down 5.15% and Ripple at $0.43296 down 2.68%.

The USD Index edged higher after support from the BOJ and as traders awaited news from US Fed Reserve meetings starting tonight. Expectations are that the Fed will keep interest rates on hold but a strong economy will lead to two more rate hikes by year end. The EUR was lower while the AUD found some buyers to continue the day sessions push higher. The GBP was also lower finding pressure from sellers.

Gold was choppy although found some buyers looking for a bargain even as the USD rallied . Copper also ended the session higher as concerns eased on trade tensions. Oil reversed gains on increased tensions between the US and Iran and news that OPEC output reached 2018 highs in July.

Locally, we saw a lacklustre session as the ASX200 closed up 1.8 points as declining stocks outnumbered rising ones by 653 to 589 and 355 ended unchanged. Techs stocks were the biggest drag on the market taking their lead from US tech heavyweights which were hit hard the previous night. Higher metals prices overnight along with an easing in trade tensions is expected to buoy materials shares today.

The ASX200 is expected to open up 20 points as the SPI200 was dragged up overnight thanks to a positive session in the US.



NZD  Employment Change and Unemployment Rate 8:45am

CNY  Caixin Manufacturing PMI 11:45am

EUR  Final Manufacturing PMI 6pm

GBP  Manufacturing PMI 6:30pm

USD  ADP Non-Farm Employment Change 10:15pm

USD  ISM Manufacturing PMI 12am

USD  Crude Oil Inventories 12:30am

USD  FOMC Statement and Fed Funds Rate 4am