Australia markets closed

Aussies better off with JobSeeker than before; ASX to open up

Are Australians better off with JobSeeker than before the coronavirus? And why are gold bars flying to New York? (Images: Getty)

Good morning.

Markets: Wall St fell overnight after investors scrambled to switch from growth stocks to cyclical-value companies. But the Australian market is set to open slightly higher, with the SPI200 futures up 0.38 per cent at 8am AEST.

The Australian dollar was buying 64.91 US cents 8am AEST this morning, up from 64.82 US cents at market close on Tuesday.

Australians are better off with JobSeeker than before the coronavirus pandemic hit. The startling finding came from the Commonwealth Bank, which analysed that the recent growth in government benefits is actually more than the reduction in wages.

Why do you feel exhausted after a Zoom video conference meeting? There is an explanation.

Australia has asked China to explain its economic threats. Last week Canberra asked for an international enquiry into the coronavirus. China then threatened to cut off economic ties with Australia. Beijing has now leaked diplomatic correspondence that show Australia enquiring what that was about.

Gold bars are flying from Australia to New York as we speak. The US is experiencing a shortage in these uncertain times, so the Perth Mint is sending over urgent reinforcements by air mail.

More than 1,800 Australian restaurants will check the temperature of their staff each day. Chinese payments provider Alipay is running the program, which will also see employees and delivery drivers provided with Australian-made hand sanitiser.

Good luck everyone.

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