The Morning Jumpstart


  • SPI200 overnight futures down 28 pts to 6117
  • SP500 down 10.55 pts to 2878.05
  • NASDAQ down 72.44 pts to 7922.73
  • FTSE100 down 64.32 pts to 7318.96
  • DAX30 down 85.21 pts to 11955.25
  • GOLD futures (Dec) up $4.00 to $1205.30 an ounce
  • COPPER futures (Comex Dec) up $0.025 to $2.635 a pound
  • OIL futures (Nymex Oct) down $0.84 to $67.88 a barrel
  • CRB Index down 1.23 pts at 189.78
  • AUDUSD trading at 0.7197
  • EURUSD trading at 1.1622
  • GBPUSD trading at 1.2927
  • USDJPY trading at 110.7200


The US saw more of the same negative sentiment as China warned they will retaliate against any new tariffs and traders braced for an escalation in the trade war. The YEN was spooked after CNBC tv said that Trump might add Japan to the list for trade issues. The DOW was again up 20.88 pts or 0.08% while the broader SP500 was down another 0.37% and the Nasdaq was down 0.91%. Trade talks between Canada and the US drag on with a few stubborn issues in the way of an agreement. In Europe shares were again lower being weighed down by tech and mining companies and also as emerging markets continue to come under pressure.

US Bond Yields dropped as buyers jumped in on safe haven buying and a general ‘risk off’ mood in all asset classes. Yields were recently higher driven by heavy corporate issuance.

The USD edged lower as currency traders battle with increasing labour market strength and higher interest rates and potential tariff issues. It was a mixed bag for the major crosses as the EUR edged lower, the AUD was unchanged and the GBP pushed higher as traders looked to position themselves for a favorable Brexit result.

Gold continued to find some love from the bulls as they pushed price higher as USD edged lower. Copper was higher to go against the grain of sentiment as profit taking kicks in and long term sellers book some gains as price falters near support. Oil was down and found no love from an unexpected drop in Inventories as demand concerns persist thanks to a potential trade war escalation.

Cryptocurrencies continue to come under pressure with Bitcoin trading at $6463.7 down 7.29%, Ethereum at $226.30 down 7.71% while Ripple bucked the trend and is up 3.15% at $0.29918.

Locally, we had a solid selloff yesterday to close down 70 points on the ASX200. Like the previous session, the selling was strong from the open and didn’t let up until the close as investors have a lot of negative headwinds to contend with. Traders are well and truly spooked about prospects of $200B of tariffs due for China unless negotiations can pull a rabbit out of the hat. A drop in the Aussie trade balance from $1.94B to $1.55B added fuel to the fire. Declining stocks outnumbered rising ones by 857 to 371 and 333 ended unchanged.

The ASX200 is expected to open down another 25 points as the SPI200 continued its move lower overnight pressured by weak overnight markets. Traders will be wary of Tariff news out today from the US potentially on another $200B on China.



AUD  AIG Construction Index 8:30am

AUD  Home Loans 11:30am

EUR  German Industrial Production and Trade Balance 4pm

CAD  Employment Change and Unemployment Rate 10:30pm

USD  Non-Farm Employment Change and Unemployment Rate 10:30pm