10 things you need to know this morning in Australia

Only the best milk will do. Picture: Getty Images

Good morning.

1. How much attention have you really been paying to what’s happening in the election campaign? Apparently enough people are thinking about it that there’s an increasing rally around Bill Shorten. There’s a new poll out today and while the two-party-preferred result, which nobody smart pays much attention to, stands at 51-49, Turnbull’s approval ratings are still falling, as is the belief that he will win. It underlines the palpable disappointment in the community with the Turnbull era so far. Still, a week is a long time in politics and there are six of them (save us) left to go.

2. This week in data. The big heads speak – RBA governor Glenn Stevens and US Fed chair Janet Yellen have chances to explain recent decisions by their boards. Stevens’ appearance at a business briefing on Tuesday in Sydney will be our first chance to hear what he has to say about the decision to cut rates at the May board meeting, while Yellen is up Friday. In between, it’s meaty enough, with construction work and capex here at home, something just about every day in the US, and it’s also Budget week in New Zealand. We’ll also get Fonterra’s opening 2016/17 milk price forecast some time this week. It’s all here in Greg McKenna’s diary.

3. Stevens should be in a good mood. Since the rate cut on May 3, the Aussie dollar is down 6.5%. It seems forex traders got the message – or a message – and are selling the Aussie to buy US dollars.

4. Markets closed the week in positive territory, including the ASX 200, which ended the week 0.4% ahead. That’s six weeks in a row, and a 1.9% rise so far this month. SPI 200 futures are up marginally, with a rise of just 3 points, and iron ore is… unpredictable.

5. The NSW government is reviewing current laws which allow guns to be attached to drones. Also in news – you’re legally allowed to attach a gun to a drone in NSW.

6. Have you noticed the big holes in the milk fridge at your local Woolies or Coles?


That’s because of the movement under way to support local farmers by buying products which support them better. Basically, not the home branded items which have caused dairy giants Murray Goulburn and Fonterra to slash the price of milk solids from $5.60 a kilogram to between $4.75 and $5. It might – and that’s a big Facebook “might” – also be because staff have been told to not restock the more expensive brands until the cheap stuff is gone.

7. Do you have an ugly wife? Congratulations – here’s why you should treasure her, according to an old Chinese axiom.

8. Ask Amazon’s Echo to play a song, and it will. Try to beat Google’s AI engine at Go, and you won’t. But ask Siri to search for a movie and it will struggle to understand the title, let alone find it, then play it. That’s why top Apple follower Marco Arment is worried that Apple could turn into BlackBerry. And now Chromebooks are suddenly outselling Macs.

9. There’s a way to watch ‘Game of Thrones’ 3 minutes sooner than everyone else:

And if you fast-forward through the opening credits and any “previously on ‘Game of Thrones'” scenes, you could know the ending five minutes before any live TV viewers spoil it for you with tweets starting with OMG.

10. You missed your chance this week, but here are 12 things successful people do on Sunday nights. But you can spend the week boning up the secrets behind Jack Ma’s incredible success with the company Alibaba, because we got them from Duncan Clark, the author of “The House That Jack Ma Built”.

Have a great day.

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