The Morning Jumpstart


  • SPI200 overnight futures up 12 pts to 6336
  • SP500 down 12.91 pts to 2901.13
  • NASDAQ down 21.32 pts to 8088.36
  • FTSE100 down 47.18 pts to 7516.03
  • DAX30 down 67.44 pts to 12494.24
  • GOLD futures (Dec) down $5.70 to $1205.80 an ounce
  • COPPER futures (Comex Dec) down $0.035 to $2.701 a pound
  • OIL futures (Nymex Oct) up $0.53 to $70.04 a barrel
  • CRB Index down 0.15 pts to 192.80
  • AUDUSD trading at 0.7267
  • EURUSD trading at 1.1668
  • GBPUSD trading at 1.3015
  • USDJPY trading at 111.0400


Companies of interest reporting today on the ASX – AHZ, AJX, AGY, AU8, AC8, BUD, DCC, EDE, EXO, HVN, IPB, MLX, MSM, MCH, NXT, PAN, QMS, REH, RAP, SWF, TTT.

US share Indexes gave up some of the recent gains as Trump said that he is ready to ramp up the trade war with China. The DOW closed down 137.65 points or 0.53% as the SP500 was down 0.44% and the Nasdaq down 0.26%. Although traders are positive that talks with Canada are heading in the right direction before the Friday deadline, attention has turned back to China. The US is set to impose another $200 Billion of tariffs on China next week as recent trade talks failed to find common ground. In Europe shares were lower following on from a weak lead in Asian trade as China was lower.

Turkey continues to find pressure as their currency comes under fire again while Argentina’s peso falls to record closing lows vs the USD. US bond yields fell as traders sought a safe haven on concerns that the trade war may escalate.

The USD dollar was higher on a round of safe haven buying thanks to headwinds from all areas of the globe. The EUR , AUD and GBP all pushed lower on the USD strength with the GBP only slightly lower on support from a positive Brexit.

Gold continued to edge lower as the USD rallied and traders preferred the safety of US Government debt over the precious metal. Copper was also lower as a deadline for China tariffs approach and traders become more concerned on demand for Copper from its biggest importer. Oil was a positive area for buyers as price continued higher on supply disruptions from Iran and Venezuela along with support from a recent drop in US inventories.

Cryptocurrencies moved lower with Bitcoin pushing back below $7000 currently trading at $6956.6 down 1.50%. Ethereum is trading at $283.94 down 2.53% and Ripple is at $0.33439 down 3.93%.

Locally, the ASX200 struggled to hold on to gains with sellers taking control into the close. The action was range bound for most of the day between 6354 and 6370 before profit takers booked some gains from the previous session. Banks struggled to follow on from the previous sessions strength as gold stocks fell. Weakness in China dragged Asia lower as sentiment is still focused on US/China trade relations. Declining stocks outnumbered rising ones by 639 to 626 and 323 ended unchanged.

The ASX200 is expected to open up 10 points after the SPI200 held support overnight but will find pressure from trade issues into the weekend.



JPY  Tokyo Core CPI y/y and Unemployment Rate 9:30am

CNY  Manufacturing PMI and Non-Manufacturing PMI 11am

AUD  Private Sector Credit 11:30am

EUR  German Retail Sales 4pm

EUR  CPI Flash Estimate y/y and Unemployment Rate 7pm

USD  Revised UoM Consumer Sentiment and Inflation Expectations 12am