10 things you need to know this morning in Australia

Photo: Blue Snapper.

Good morning.

1. This dollar. At 7.35am AEST, the AUD/USD was buying 0.7362, up 1.85% on Friday’s opening level. It’s holding onto the gains which followed Friday’s appalling non-farm payrolls print in the US, the lowest since September 2010. At 1.87%, they were the biggest against the US dollar in percentage terms since June 2, 2015. Overvalued? Not according to Rodrigo Catril, who told Greg McKenna he reckons it’s fair value. US stock weren’t hit too hard though, and the SPI 200 closed well off its lows and just in the black with a 1 point rise to follow the local market’s 40 point rise to close the week.

2. A big week in data? Always. But this one has the RBA rates call in it, tomorrow at 2.30pm. Any change would be a shock, but all eyes will be on the governor’s statement. And housing data on Werdnesday, where any acceleration in investor lending could forestall any future rate cuts. More specifically, we’ll be watching the final paragraph for hints of bias. In the US, Fed chair Janet Yellen’s speech will be watched closely tonight. For the heads up on everything else, you’ll have to sneak a peek in Greg McKenna’s diary.

3. Do Aussie voters really care about the “white hot” issue of superannuation? No.

4. Now he has a podcast. Our editor Paul Colgan is shooting the breeze each with markets and economics reporter David Scutt and a special guest. This week, it’s Shane Oliver, head of investment strategy and chief economist at AMP Capital and they’re talking about that GDP read and Australia’s transition. It’s here on iTunes or you can listen to it here, below, while you’re working. Productivity!

5. You might have heard about the wild weather that’s battering Australia’s east coast. The pics have been exciting and alarming – how’s your Sydney beachfront investment looking right now? These ones aren’t looking too flash.

A photo posted by Matt (@mattejnutt) on

6. But not as alarming as this post Facebooked by the NSW State Emergency Service:

Screenshot. Photo: NSW SES.

That’s all the areas under threat of a tsunami. Given the SES released it at the same time everyong was sharing pics of a monster rain event, it caused a lot of panic and some anger. But only amongst those who think a lot of rain can somehow force the ocean to chuck up a 30 metre freak wave. They should have all just calmed the hey down and did what this guy did. When the weather brings the fish to you, go fishing:


“THIS IS LIKE CHRISTMAS.”

7. She ain’t no human being? Maybe the Sex Pistols were a little harsh on the Queen. An army surgeon who had just returned from Aleppo after “coping with children who had been really badly damaged” had a meeting with Her Maj on the eve of receiving an OBE. Clearly stressed, he was struggling to chat to her about his war experience. But then the Queen asked Nott: “Shall I help you?” And sorry for the bait, but what she did next was … lovely.

8. Want to get rich? Then you need to want to learn about how to get rich and start reading. So here’s a great place to start – our get rich expert Kathleen Elkins’ 14 best websites to bookmark if you want to make pots of cash.

9. You might think Lululemon founder Chip Wilson is into athleisure. And maybe he was 10 years ago, which is when he reckons athleisure wear had its day. Now Wilson is focused on another term retailers have invented to suck cash out of you as you desperately scramble to update your wardrobe before anyone notices. It’s called “streetnic”. Here’s Alex Morgan wearing some Nike “streetnic” – look how much better she is at soccer now!

A photo posted by nike (@nike) on

10. The best buildings in Australia this year were recognised at the 2016 Innovation and Excellence Awards. Macquarie Bank’s renovation of the former Bank of NSW building took out the “coveted” prize for Development of the Year, but there were some great achievements not related to our national property investment obsession. They’re all here.

Have a great day.

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