10 things you need to know this morning in Australia

Source: Getty.

Good morning!

1. Today’s the big day. The RBA monetary policy announcement is due at 2:30pm AEST Tuesday, with its long-awaited interest rate decision. Financial markets have priced in the likelihood of a change for the first time since 2016. Here’s your 10-second guide to Tuesday’s RBA report.

2. US-China trade tensions wreaked havoc on markets yesterday. Trump fired off two tweets threatening to raise tariffs on billions of dollars of Chinese goods by the end of the week and the tweets were perceived as a show of force for upcoming trade negotiations. Subsequent reports stated that Chinese Vice Premier Liu He had cancelled the meetings, but the US is adamant that these meetings are going as planned. Here’s how markets reacted.

3. The Aussie dollar has made a comeback, after getting knocked down to four-month lows on Monday. The US and China appear to have agreed to continue negotiations, but markets seem shaky after Monday’s news. All eyes in Australia are on the Reserve Bank’s decision.

AUD/USD Hourly Chart

4. It’s a boy! The Duchess of Sussex, Meghan Markle has given birth to a baby boy overnight, making the newborn seventh in line for the throne. The birth was announced by Buckingham Palace and followed up with a press conference by Prince Harry outside Windsor Castle.

5. We need more wine! Australian wineries are going to struggle to keep up with forecast demand from overseas markets, and the impacts of the east coast of Australia’s prolonged drought conditions. Australia is currently the fifth largest exporter of wine, but this has been dubbed wine production’s most “challenging decade”.

6. Spoiler Alert. Game of Throne is approaching the final episode of its final season. Fan theories are being knocked off one by one, but there are hints for how this will all end. Here are some clues from episode 4 that you might have missed.

7. An underpayment scandal has hit Melbourne’s most popular shopping strip, Chapel Street. A network of bars – including Wonderland, Electric Ladyland, and Holy Grail – has been keeping staff “off the books” and paying them in envelopes stuffed with cash. At least 12 venues have been accused of “stealing wages” from staff.

8. Beijing has condemned recent US military action that has “infringed on China’s sovereignty” and “undermined peace”. The US Navy sent two guided missile Destroyers to sail by Chinese maritime territory and challenge claims to certain waterways. The US has conducted four of these operations so far this year.

9. Billion dollar baby. Avengers: Endgame just keeps breaking records, and now the directors, Joe and Anthony Russo, have spoken with Business Insider about the hard yards that went into this $2 billion epic, and how they feel now it’s all over.

10. “Wall as a service”. Forget all our other service-based industries, we now specialise in walls. An Australian bricklaying robot company has signed a joint venture with Australia’s largest bricklaying business. The Hadrian X, bricklayer, is reportedly able to lay 1,000 bricks per hour.

BONUS ITEM: Here’s the first rehearsal for Australian candidate for Eurovision, Kate Miller-Heidke. It’s a true Eurovision spectacle to watch.

Eurovision kicks off next week.


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