The Morning Jumpstart


  • SPI200 overnight futures down 2 pts to 6280
  • SP500 up 22.32 pts to 2840.69
  • NASDAQ up 32.41 pts to 7806.52
  • FTSE100 up 58.51 pts to 7556.38
  • DAX30 up 74.16 pts to 12237.17
  • GOLD futures (Dec) down $4.00 to $1181.00 an ounce
  • COPPER futures (Comex Sep) up $0.046 to $2.606 a pound
  • OIL futures (Nymex Sep) up $0.45 to $65.46 a barrel
  • CRB Index up 1.43 pts to 188.38
  • AUDUSD trading at 0.7261
  • EURUSD trading at 1.1376
  • GBPUSD trading at 1.2717
  • USDJPY trading at 110.8600

The US managed to gain back a lot of lost ground on easing trade concerns. The DOW had a big night closing up 396.32 points or 1.58% with the SP500 up 0.79% and the Nasdaq rallied 0.42%. The DOW, which has been linked to trade fears, posted its biggest gain in over four months. News that China will send a delegation to the US for low level talks on trade boosted beaten down industrials. The Lira got a lift as the Turkey finance minister said that the country would emerge stronger from its currency crisis saying that their banks were healthy and that Turkey could ride out pressure from the US. In Europe shares recovered on the news that the US and China are taking steps to resolve their differences.

Cryptocurrencies are holding up after a minor bounce with Bitcoin trading at $6260.6 down 1.62%. Ethereum continues to come under pressure trading at $283.16 down 1.60% while Ripple is at $0.28906 up 0.45%.

The USD was lower after some recent safe haven buyers closed out positions to lock in some gains as the tide of negative news starts to change. Emerging market currencies also managed to bounce on the back of Turkeys positive talk. The EUR, the GBP and the AUD all managed to bounce after weakness in the USD. AUD buyers will be looking towards RBA’s Gov Lowe Speech for further support.

Gold bugs continued to come under pressure although the selling abated to some extent as price searches for some support. Copper was higher as buyers stepped in on China/US news. Oil bounced although a weakening outlook for demand kept prices suppressed.

Locally, the ASX200 managed to bounce from being down over 50 points, after shares started the session well and truly on the back foot. Declining stocks outnumbered rising ones by 648 to 572 and 407 ended unchanged. Materials shares did not fare so well to initially drag the market lower with heavyweights BHP and RIO leading the charge as Chinese iron ore futures dropped over 4%. TLS gave long term holders some reprieve after it posted a fall in annual profits that were less than expected.

The ASX200 is expected to open up 5 to 10 points as the SPI200 followed the US up in a strong session overnight.



NZD  PPI Data 8:45am

AUD  RBA Gov Lowe Speaks 9:30am

AUD  RBA Gov Ellis Speaks 5:30pm

EUR  Current Account 6pm

EUR  Final CPI 7pm

CAD  CPI Data 10:30pm

USD  Prelim Consumer Sentiment 12am