The Morning Jumpstart


  • SPI200 overnight futures down 23 pts to 6108
  • SP500 down 6.37 pts to 2871.68
  • NASDAQ down 20.18 pts to 7902.54
  • FTSE100 down 41.26 pts to 7277.70
  • DAX30 up 4.38 pts to 11959.63
  • GOLD futures (Dec) down $2.50 to $1201.80 an ounce
  • COPPER futures (Comex Dec) down $0.018 to $2.619 a pound
  • OIL futures (Nymex Oct) up $0.07 to $67.84 a barrel
  • CRB Index up 0.57 pts at 190.36
  • AUDUSD trading at 0.7107
  • EURUSD trading at 1.1553
  • GBPUSD trading at 1.2920
  • USDJPY trading at 110.9900


The US ended the week on a negative note as trade tensions are set to escalate. Trump is now talking about slapping tariffs on all Chinese imports which would mean another $267 Billion on top of the $200 Billion already earmarked in coming days. US Bond yields were higher pressured by stronger employment data. The DOW was down 79.33 pts or 0.31% while the broader SP500 was also down 0.22% and the Nasdaq down 0.25%. In Europe shares were mixed with German DAX ended flat while the FTSE was lower on continued Brexit issues. The close signaled the worst week since march for European shares.

The USD was higher after US jobs data came out stronger than expected and showed a pickup in wage growth. The continued strength in the labour market is expected to keep the Fed Reserve well on track for two more interest rises this year. The EUR and the AUD were both stronger while the GBP was unchanged from the previous close on Brexit concerns.

Currencies that have US dollar denominated debt and high current-account deficits, continued to be pressured as the servicing costs will increase with rising interest rates.

Gold gave us some of its previous gains to end lower as the USD rallied on the back of stronger labour data. Copper followed in Golds footsteps and ended lower with a strong dollar and also on trade concerns. Oil ended flat to slightly higher.

Cryptocurrencies are still on their knees but showing some green as Bitcoin trades at $6385.7 up 3.33%. Ethereum is trading at $201.09 up 3.14% and Ripple is at $0.28275 up 3.31%.

Locally, shares continued to slide as the ASX200 finished down 16.6 points at the close. The positive news from the session was that the Index was a lot lower at the beginning of the session as traders remained on edge over US/China trade tensions. Declining stocks outnumbered rising ones by 705 to 494 and 363 ended unchanged. We expect to see another weak session today as traders await some news on trade.

The ASX200 is expected to open down 25/30 points after the SPI200 continued the move lower through the European and US sessions Friday night.



JPY  Current Account and GDP Data 9:50am

CNY  CPI and PPI Data 11:30am

AUD  RBA Assist Gov Bullock Speaks 1:05pm

GBP  GDP, Manufacturing Production and Goods Trade Balance 6:30pm

USD  FOMC Member Bostic Speaks Tentative