The Morning Jumpstart


  • SPI200 overnight futures down 6 pts to 6270
  • SP500 up 0.78 pts to 2897.52
  • NASDAQ up 12.14 pts to 8030.04
  • FTSE100 up 39.73 pts to 7617.22
  • DAX30 down 10.89 pts to 12527.42
  • GOLD futures (Dec) down $9.00 to $1207.00 an ounce
  • COPPER futures (Comex Dec) up $0.013 to $2.745 a pound
  • OIL futures (Nymex Oct) down $0.34 to $68.53 a barrel
  • CRB Index down 1.16 pts to 191.71
  • AUDUSD trading at 0.7336
  • EURUSD trading at 1.1694
  • GBPUSD trading at 1.2872
  • USDJPY trading at 111.1700


Companies of interest reporting today on the ASX – AGO, AVH,  BAL, BLA, BLD, BRN, BWX, CAB, FBR, IGO, MSB, NHL, RFX, RFG, SHJ, SRX, VAH.

The US ended the session flat as the SP500 and Nasdaq hold at all time highs. The DOW closed up only 14.38 points or 0.06% in a solid session with the SP500 up 0.03% and the Nasdaq up 0.15%. Global markets reacted well to news of a US/Mexico trade deal and it now looks positive as Canada enter negotiations to remain part of a revamped trilateral North American Free Trade Agreement. Traders are still waiting for further news on the US and China tariff talks. The US have a much bigger bargaining chip in the form of another $200 Billion that they can tariff while China may be unable to retaliate to the same extent. In Europe the FTSE100 played catchup from Monday nights action as they were closed for a banking holiday while the rest of Europe was relatively flat looking to further news for buyers to add risk.

The USD dollar was lower but the weakness could not support some emerging market currencies like the Turkish Lira. Traders still have concerns over Turkey’s unwillingness to raise interest rates and rift with the US. The EUR was higher as German Officials say that aid for Turkey is not on the Agenda. The AUD and GBP edged lower as traders looked to book some recent gains.

The Turkey situation has not gotten any better as Moody’s downgrades 20 Turkish financial institutions saying that their is substantial downside risk. Traders are not willing to go near the currency which will make it hard for the country to finance debt and stop the rot. Investors will still be keeping an eye on the situation as contagion is the biggest risk.

Gold gave up some recent gains as buyers locked in some profits after a few strong sessions off $1167 lows. Copper bucked the trend of weakness in commodity indexes as price continued to rally. Oil gave up some gains to close lower ahead of inventory data out tonight.

Cryptocurrencies had a strong session as Bitcoin cracks back above $7000 currently trading at $7057.8 up 4.59%. Ethereum is also higher at $293.86 up 5.80% and Ripple is trading at $0.35122 up 6.27%.

Locally, the ASX200 ended up 0.57% as traders were buoyed by optimism over tariffs after a US-Mexico trade deal. Pressure will now be on Canada and Europe to follow suit which may give our market a further nudge higher. News overnight said that Canada is sending a top trade negotiator to join Mexico and the US in talks. Advancing stocks outnumbered falling ones by 663 to 554 and 363 ended unchanged.

The ASX200 is expected to open down 5/10 points after the SPI200 came under pressure overnight.



AUD  HIA New Home Sales Tentative

JPY  Consumer Confidence 3pm

EUR  German Consumer Climate 4pm

EUR  French GDP 4:45pm

CAD  Current Account 10:30pm

USD  Prelim GDP 10:30pm

USD  Pending Home Sales 12am

USD  Crude Oil Inventories 12:30am