10 things you need to know this morning in Australia

SuppliedAtlasssian co-founders Scott Farquhar and Mike Cannon-Brookes.

Good morning.

1. The Australian dollar fell to a one-week low against the greenback on Monday, weighed down by broad-based US dollar strength. Traders paid scant attention to the massive surge in Chinese stocks seen during the session, choosing instead to focus on political woes in Europe. At 8am AEDT, the Aussie was down 0.53% to 0.7082.

Investing.comAUD/USD Hourly Chart

More from markets here.

2. Iron ore spot markets rallied across the board on Monday, hitting fresh multi-month or multi-year highs in the process. Strength in Chinese steel markets, along with a raft of measures announced by Chinese policymakers to support economic activity, undoubtedly helped to boost sentiment across the sector. David Scutt has more.

3. Ouch. Petrol in Australia is the most expensive it’s been in over a decade. At 159.3 cents a litre, the average nationwide price now sits at the highest level since late July 2008, reflecting prior strength in global crude oil prices as well as ongoing weakness in the Australian dollar.


4. Huawei, the smartphone maker that’s more popular than Apple, isn’t selling its new iPhone rival in the US. The company is locked out of the American market because of fears that it spies on people for China. The phone goes on sale in Australia on November 1. After giving it a whirl ourselves, here’s what we thought of it.

5. The downturn in Sydney and Melbourne’s housing markets is showing no signs of slowing. According to CoreLogic, home prices in Sydney and Melbourne fell by 0.2% last week, while prices in the other mainland state capitals were flat to higher. Over the past year, Sydney prices have fallen more than those in Melbourne. However, the pace of price declines has been faster in Melbourne. More here.

6. Atlassian’s stock just got whacked, but traders still see a bright future ahead for the Aussie tech giant. Its stock price dropped 14% on Friday a day after it announced earnings, and it has only slightly recovered since then. But with a price increase, new product and acquisition announcements, and a focus on the IT market, analysts see potential for growth next quarter.

7. Details of the death of Jamal Khashoggi continue to be revealed. According to a CNN report, citing surveillance footage and an unnamed senior Turkish official, Saudi agents suspected of orchestrating the journalist’s death are believed to have stripped Khashoggi and had a body double wear his clothes around the city. Meanwhile, the Saudi Crown Prince reportedly couldn’t understand the outrage over Khashoggi’s killing.

8. A murder investigation is under way after the body of a 24-year-old pharmacy worker was found on a Cairns beach. Police are asking for anyone who was in the area at the time to come forward.

9. Instagram just passed Snapchat as the most used app among American teens. A new Wall Street survey found that 85% of teens said they used Instagram at least once a month, while 84% said they used Snapchat at least once a month. This is the first time Instagram has passed Snapchat in the survey in two years.

10. This is what happens when history meets hipsters:

Courtesy Amit ShimoniDonald Trump.

Tel-Aviv-based illustrator Amit Shimoni has been working on a series of illustrations called “HIPSTORY” – a reimagining of iconic historical figures as modern-day hipsters – since 2014. And with almost 20,000 Instagram followers, he’s quickly gaining a large following for his work. See more here.

BONUS ITEM: Robbers successfully hacked and stole a Tesla from a tech executive — but not before they struggled to figure out how to unhook the charging cable.

Have a great day.

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