10 things you need to know this morning in Australia

Matthias Hangst/Getty ImagesDavid De Gea of Spain fails to save Denis Cheryshev of Russia’s fourth penalty during the penalty shoot out against Spain.

Good morning.

1. ASX futures are pointing higher after global stocks were steady to end the week. US stocks started strong but finished flat, with gains underpinned by financials as banks passed the US Fed’s stress test, while energy stocks got a boost from higher oil prices.

2. The Australian dollar is climbing again, managing to sustain the euro and China-led bounce seen on Friday. At 8am in Sydney, the AUD/ USD was 0.7395.

Investing.comAUD/USD Hourly Chart

It’s set to be a busy day for data releases both in Australia and abroad. See what’s likely to move the Aussie here.

3. The week ahead. It’s a busier schedule of key data in Australia, while globally there’s a raft of manufacturing PMIs to kick off a new month, starting with China today. And China will be in focus this week after Chinese stocks just posted their worst monthly result since January 2016 amid the government’s deleveraging campaign and the ongoing threat of a trade war. The full calendar is here.

4. Spain is out of the World Cup after Russia pulled off one of the biggest upsets in the competition’s history. The home team bet the championship favourite 4-3 on penalty kicks overnight. Russia’s goalkeeper, Igor Akinfeev, made an incredible save with his foot on Spain’s final kick, ultimately eliminating them from the competition. Watch the moment here:


5. Measures to cool Australia’s housing market have worked. Now to find out if they cause a whole set of other problems. That’s according to Business Insider’s David Scutt. In an opinion piece published over the weekend Scutt writes about how an attempt to reduce risks in the housing market could have created even greater risks for the economy. Read more here.

6. The Apple-Samsung “thermonuclear war” over Android is over after the two tech giants finally settled a seven-year patent dispute. The terms of the settlement aren’t known. The dispute was over Apple’s allegation that Samsung violated its patents and copied the design of the iPhone. For most people and Apple fans, there are no easy takeaways from the end of the case but at least we got some iPhone prototype photos out of the battle.

Court filing

7. The Logies. The annual Australian television awards night had people talking last night, and not for the right reasons. From Bert Newton’s at times inappropriate speech which included a joke about sexual assault, to Grant Denyer winning the Gold Logie after Tom Gleeson boycotted the voting, essentially robbing industry legends Tracy Grimshaw and Amanda Keller as a result.

8. Rockpool Dining Group is being investigated by the Fair Work Ombudsman, facing claims that its chefs are working excessive hours of unpaid overtime at its restaurants. Australia’s biggest restaurant group denies it has acted inappropriately, with the group’s culinary director Neil Perry saying they care about their staff. Simon Thomsen has more here.

9. Lift off. A camera, which was partly developed in Melbourne, was fired into space onboard Elon Musk’s SpaceX Falcon 9 rocket on Friday and will be used to fight bushfires and monitor the health of the Great Barrier Reef. Built at La Trobe University in Melbourne, the camera will take three days to reach the International Space Station 400km above Earth, where it will be installed. The ABC has more.

10. Scheduled flights to and from Bali are resuming after delays brought on by the Mount Agung volcanic eruption. The island’s international airport reopened yesterday at 5.30pm AEST. However airlines are warning that the services are still subject to change if conditions deteriorate.

BONUS ITEM: Speaking of rockets. It was a bad day for the Japanese team that launched this one.

Have a great day.

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