The Morning Jumpstart


  • SPI200 overnight futures down 19 pts to 6207
  • SP500 down 2.93 pts to 2813.36
  • NASDAQ up 35.50 pts to 7707.29
  • FTSE100 down 95.85 pts to 7652.91
  • DAX30 down 68.45 pts to 12737.05
  • GOLD futures (August) down $9.30 to $1214.40 an ounce
  • COPPER futures (Comex Sep) down $0.089 to $2.742 a pound
  • OIL futures (Nymex) down $0.92 to $67.84 a barrel
  • CRB Index down 2.89 pts to 191.64
  • AUDUSD trading at 0.7403
  • EURUSD trading at 1.1661
  • GBPUSD trading at 1.3126
  • USDJPY trading at 111.7000

The US was mixed overnight as buyers were pressured by tariff talk from the Trump administration. The DOW was down 81.37 points or 0.32% while the SP500 was down 0.10% while the Nasdaq bucked negativity to close up 0.46% after Apple increased its outlook on the back of solid earnings. The US are now proposing an increased tariff rate from 10% to 25% on $200 Billion of Chinese imports with the deadline for comment extended from Aug 30th to Sep 5th. China accused the US of blackmail and said that they will respond in kind. In Europe major Indexes were lower as traders confidence was left dented as earnings failed to offset growing concerns over the US and China trade dispute.

Cryptocurrencies gave up further ground as prices pushed lower. Bitcoin is currently trading at $7504.8 down 2.55% while Ethereum is at $411.84 down 4.96% and Ripple at $0.43957 up 1.79%.

The USD Index was higher after the US Fed Reserve left rates on hold but reiterated a strong economy and jobs market continued to pressure inflation higher. The Fed are happy to let inflation hover at the top end of their target range and will continue to monitor trade headwinds on the economy. The EUR and the AUD were lower while the GBP was relatively unchanged.

Gold was lower coming under fire from safe haven buying into the USD. Copper found selling pressure again as talk of increased trade disputes dominated the commodities sentiment. Oil was pressured lower by an unexpected rise in US inventories and OPEC production.

Locally, the ASX200 was down slightly at the close with Energy and Financials holding prices lower to offset gains in miners. Declining stocks outnumbered rising ones by 626 to 581 and 369 ended unchanged. BHP and RIO were lifted by higher commodity prices. RIO announcing solid earnings after the bell with a record interim Div of $1.71 and a share buyback of $1 Billion although buyers may be pressured by the drop in free cash flow and increase in capital expenditure.

The ASX200 is expected to open down 20 points as the SPI200 was dragged lower in overnight action.



AUD  Trade Balance 11:30am

GBP  Construction PMI 6:30pm

EUR  PPI Data 7pm

GBP  BOE Inflation Report, Official Bank Rate, Monetary Policy Summary 9pm

BOE  Gov Carney Speaks 9:30pm

USD  Unemployment Claims 10:30pm

USD  Factory Orders 12am