The Morning Jumpstart


  • SPI200 overnight futures up 5 pts to 6205
  • SP500 down 11.35 pts to 2821.93
  • NASDAQ down 19.40 pts to 7819.71
  • FTSE100 down 24.56 pts to 7642.45
  • DAX30 down 65.61 pts to 12358.74
  • GOLD futures (Dec) down $18.50 to $1200.50 an ounce
  • COPPER futures (Comex Sep) down $0.007 to $2.735 a pound
  • OIL futures (Nymex Sep) down $0.22 to $67.41 a barrel
  • CRB Index down 1.40 pts to 190.30
  • AUDUSD trading at 0.7273
  • EURUSD trading at 1.1411
  • GBPUSD trading at 1.2763
  • USDJPY trading at 110.6800

Another night of red as the US closed lower due to further fallout from Turkey’s currency and economic problems. The DOW was down another 125.44 points or 0.50% with the SP500 down 0.40% and the Nasdaq fared a bit better down 0.25%. The Lira managed to claw back some losses after the country’s central bank said that they will provide liquidity and cut banks reserve requirements. Bank shares were hit the hardest as US bonds were higher on safe haven demand. In Europe shares Indexes were again lower as concerns on the fallout from the Turkey situation and fears of a banking crisis hit global markets. Confidence in bank stocks with exposure to Turkey was hit as the sector fell and Bonds rallied.

Cryptocurrencies followed the share markets lower as Bitcoin is trading at $6269.5 down 1.20% while Ethereum was hammered currently trading at $287.2 down 11.42% and Ripple is doin a little better trading at $0.27896 down 7%.

The USD had a strong night as traders sought the safety of the US backed currency. Emerging market currencies were hit hardest but the Lira fall and they continued to come under pressure overnight. The EUR initially saw further selling pressure but then bounced to finish the session unchanged. The GBP ended slightly higher while the AUD was lower on the rally in the USD.

Gold was hammered to close the session down over 1.5% on the futures as the USD rallied. Copper was lower but held up okay under pressure. Oil was lower as mixed news from OPEC saw minor selling. In a statement OPEC forecast a drop in demand for 2019 and higher surplus so will cut output to avoid a glut in stockpiles.

Locally, shares found selling pressure to finish lower on global market woes. Declining stocks outnumbered rising ones by 732 to 476 and 375 ended unchanged. Material stocks and Banks were the biggest drag on the Index as trade concerns continue to pressure commodities. Traders are awaiting updates from three of the majors as CBA warns of slower mortgage growth. Traders have a lot of headwinds to deal with at the moment so may let the dust settle before adding more risk to shares. Gold stocks will come under pressure today while energy may also feel the pinch.

The ASX200 is expected to open flat as the SPI200 initially bounced through the European session but then was sold along with US equities into the close.



AUD  NAB Business Confidence 11:30am

CNY  Fixe Asset Investment, Industrial Production and Retail Sales 12pm

EUR  German Prelim GDP and Final CPI 4pm

GBP  Average Earnings Index, Claimant Count and Unemployment Rate 6:30pm

EUR  Flash GDP, German ZEW Economic Sentiment and Industrial Production 7pm

USD  Import Prices 10:30pm