The Morning Jumpstart


  • SPI200 overnight futures up 12 pts to 6092
  • SP500 down 5.94 pts to 2629.73
  • NASDAQ down 12.74 pts to 7088.15
  • FTSE100 down 40.51 pts to 7502.69
  • DAX30 down 112.10 pts to 12690.15
  • GOLD futures up $7.00 to $1312.60 an ounce
  • COPPER futures up $2.35 to $309.20 a pound
  • OIL futures up $0.56 to $68.49 a barrel
  • CRB Index up 0.85 to 202.10
  • AUDUSD trading at 0.7532
  • EURUSD trading at 1.1989
  • GBPUSD trading at 1.3574
  • USDJPY trading at 109.1800

The US was weaker in a choppy session which was really just a follow on from the previous session on a standoff between the US and China on trade issues. The DOW was slightly higher up 5.17 points or 0.02% while the broader SP500 was down 0.23% and the Nasdaq was also down 0.18%. Stronger economic data was offset by weaker than expected earnings from several companies as traders toy with the idea that corporate profits may have peaked. US bond yields were weaker after the FOMC signaled that they are happy with inflation holding around 2.0% easing concerns over a faster pace of rate rises. Europe was weaker after data showed that Eurozone inflation had dropped to 1.2% for April versus 1.3% from March. A push higher in the EURO also pressured stocks along with a series of disappointing earnings.

Cryptocurrencies had a strong session with Bitcoin up 4.09% to $9669 while Ethereum is trading at $762 up 10.55% and Ripple is at $0.8768 up 4.61%.

The USD index fell ahead of the US jobs data out tonight as traders locked in some gains from the recent rally.  The EUR and AUD were both stronger while the GBP was unchanged by the end of the session.

Gold managed to bounce off key support helped higher by a weaker USD. Copper also pulled off a second day of gains thanks to the USD while Oil continued to push higher and grind out gains on continued concerns over output cuts and Iran sanctions.

The ASX200 is is expected to open up 10 points as the SPI200 held onto yesterdays gains through the US session. Traders will be looking ahead to the RBA statement today at 11:30am and then to US payrolls later tonight.



AUD  RBA Monetary Policy Statement 11:30am

CNY  Caixin Services PMI 11:45am

EUR  Final Services PMI 6pm

EUR  Retails Sales 7pm

USD  Non-Farm Employment Change, Unemployment Rate and Average Hourly Earnings 10:30pm

EUR  German Buba President Weidmann Speaks 11pm

USD  FOMC Member Dudley Speaks 2am

USD  FOMC Member Williams Speaks 5am