Good morning! It’s a long weekend public holiday in NSW – we need a day off to get over daylight savings.
1. A stronger US dollar, alongside a big non-farm payrolls print has knocked the Aussie back under 87 cents to the 2014 low where it sits this morning at 0.8674. Similarly the Yen was weak and is back up near 110 at 109.73 in early Asian trade.
2. The rally in US stocks and Yen’s weakness should help Japanese stocks in trade today although the ASX futures only rallied 3 points on Friday night’s trade suggesting that Australian stocks will continue to underperform – especially with Sydney out today.
3. China has a holiday today, there is no data in Japan and most of Australian finance is out with the holiday in Sydney so it should be a fairly quiet day.
4. It’s another big week for economic data. Who knows where September’s employment figures will go on Thursday after the last couple of crazy figures. The ANZ job ads survey is out today and the RBA has another stab at interest rates on Tuesday. Or not. And the AIG contruction index tomorrow will tell us whether we’re just imagining more cranes around the city or sector isn’t as strong as we thought.
5. Now to important news. Russell Crowe is probably writing a new poem to celebrate his team’s fairy tale win in the NRL grand final last night. With 15 minutes on the clock, 8 points between them and the Bulldogs repeatedly hammering the Souths line, everyone worried the Bunnies would crack under such sustained pressure, but in the end, it was the Doggies who crumbled and the Rabbitohs ran away with the game in its dying minutes. Sam Burgess was the deserved Clive Churchill medal winner for man of the match, having played the entire 80 minutes with a fractured cheekbone. This was a victory for the true believers, who fought to have Souths reinstated to the competition 12 years ago. Even Souths legend George Piggins looks set to forgive and forget in the wake of his bitter stoush with Rusty and the club’s other co-owner Peter Holmes a Court. And with former NSW premier Kristina Keneally and federal MP Anthony Albanese counted among the diehard Rabbitohs fans, you could say this was the ALP’s biggest victory in many many years.
6. The corner store is enjoying a revival. Last week we detailed how changing lifestyles have created a boom in smaller convenience stores. It seems we’re not the only ones to notice, with Woolworths snapping up smaller sites around Sydney amid plans to take on the corner store market with plans to roll out “Woolworths Small Format” in Sydney and Melbourne.
7. Australia is at war, with the head of defence, Air Chief Marshall Mark Binskin, confirming two F/A-18F Super Hornets ran an armed mission overnight in Iraq, although no shots were fired. And in a sign of modern warfare, he announced the news first on Twitter.
8.America is still trying to figure out who it is these days, with the economic data showing the US economy grew at its fastest rate in eight years in the second quarter of 2014, but Americans still think the US is in the midst of a recession. Perhaps the news that Souths won will cheer them up.
9. If you’ve taken the kids swimming in the ocean over the school holidays, you might have a different view on water temperatures, but new studies suggest the ocean is warming faster than predicted, although it seems science is still grappling with what it all means in the context of global warming. But best keep the wetsuit on for now.
10. Facebank? Facebook is looking at a implementing a payments system through Messenger, so your friends won’t just be chasing likes, they’ll want $20 too.
BONUS ITEM There was a bright spot in Australia’s humiliating defeat to Argentina in the Rugby Championships. Before the match, an Argentine tenor sang Australia’s national anthem – except he didn’t know the words, although “for we are lert azee” sounds about right.
Have a great day – especially if you’ve got it off. I’m on Twitter @simonthomsen
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