The Morning Jumpstart


  • SPI200 overnight futures up 28 pts to 6327
  • SP500 up 9.44 pts to 2850.13
  • NASDAQ up 9.81 pts to 7816.33
  • FTSE100 up 2.21 pts to 7558.59
  • DAX30 down 26.62 pts to 12210.55
  • GOLD futures (Dec) up $7.80 to $1191.80 an ounce
  • COPPER futures (Comex Sep) up $0.043 to $2.660 a pound
  • OIL futures (Nymex Sep) up $0.45 to $65.91 a barrel
  • CRB Index up 0.36 pts to 188.74
  • AUDUSD trading at 0.7313
  • EURUSD trading at 1.1438
  • GBPUSD trading at 1.2749
  • USDJPY trading at 110.5000

The US closed out the week on a positive note although another drop in the Turkish Lira keep traders in a cautious mindset. The DOW had another good night closing up 110.59 points or 0.43% with the SP500 up 0.33% and the Nasdaq closing up 0.13%. Concerns over the Turkish Lira was offset by optimism over over the up-coming US/China trade talks. The two countries are drawing up a ‘roadmap’ for negotiations to resolve a tariff war. Although traders are positive, this is still far from a done deal as coming to an agreement is different to agreeing to talk. In Europe shares were mixed as further pressure in emerging markets weighed on the major indexes as a Turkish court rejected the US pastors release which only deepened the rift with the US.

Cryptocurrencies are higher as Bitcoin trades at $6478.9 up 1.45% while Ethereum is at $300.27 up 1.87% and Ripple at $0.34385 up 4.77%.

The USD dollar was lower against major trading pairs as news of US and China talks filtered through the market. A sharp drop in the Turkish Lira continued to pressure emerging market currencies. It seems that traders want decisive action from Turkeys reserve bank before they gain confidence. The EUR, the GBP and the AUD were all higher at the close.

Gold managed to rally and close higher as sellers booked some recent gains. Copper continued higher as buyers gained more confidence in a resolution to trade relations between China and the US. Oil was also higher being helped along by a weaker USD and potential global supply squeeze.

Locally, the ASX200 finished off the day in the green as the Index closed up 60.8 points for the week. Advancing stocks outnumbered falling ones by 719 to 500 and 397 ended unchanged. A solid move up in the banks has supported the Index for the week. The ASX200 followed the lead from a strong overnight session in the US and we expect to see a positive start to this week.

The ASX200 is expected to open up 25 to 30 points as the SPI200 closed out the week with a rally.



EUR  German PPI 4pm

EUR  German Buba Monthly Report 8pm

USD  FOMC Member Bostic Speaks 1am

EUR  German Bub President Weidmann Speaks 2am

AUD  RBA Gov Lowe Speaks 8am