Source: Zoom Earth
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • A slow-moving cyclone in North Queensland has knocked over power lines and cut electricity to around 40,000 homes from Cairns to the Cassowary Coast
  • Cyclone Niran was declared a Category One system by the Bureau of Meteorology (BoM) this morning, with sustained winds of 85 kilometres near the centre and wind gusts of up to 120 kilometres per hour
  • A warning has been issued from Cape Flattery to Mission Beach as dozens of schools across Queensland close while the wild weather rages
  • The cyclone is expected to strengthen over the next few days, though at this stage the BoM expects it to remain mostly offshore
  • Still, the cyclone has wiped out banana plantations across Innisfail and cut off some communities from the rest of Queensland due to flooded roads
  • The impact the severe weather will have on local banana supply and the infrastructure damage caused by the cyclone is not yet known

A slow-moving cyclone in North Queensland has knocked over power lines and cut electricity to around 40,000 homes from Cairns to the Cassowary Coast.

A tropical low has caused wild weather off the coast of Cairns and was declared a Category One system by the Bureau of Meteorology (BoM) this morning.

Dubbed Cyclone Niran, the system has sustained winds of 85 kilometres per hour near the centre with wind gusts of up to 120 kilometres per hour, according to the BoM.

A warning has been issued from Cape Flattery to Mission Beach, with dozens of schools across North Queensland closed while the wild weather rages. Residents have been urged to take precautions and stay alert for further advice.

The BoM said the cyclone is expected to intensify over the next day or two, though the system is expected to remain off the north coast.

Still, according to an ABC report, BoM forecaster Rosa Hoff warned the cyclone could strengthen to a Category Three system later this week.

“Even though a direct coastal crossing is unlikely, we are seeing severe weather impacts out of the system already and we’re going to continue seeing them over the next few days before the system starts to retract further into the Coral Sea,” Rosa said.

Banana plantations across Innisfail have been wiped out by the severe weather, while heavy rainfall has flooded roads and cut off some communities from the rest of Queensland.

Queensland police have urged residents not to drive through flooded areas.

The impact the severe weather will have on local banana supply and the infrastructure damage caused by the cyclone is not yet known.

More From The Market Online

Well below US$5K/oz, gold’s surefire status as a safe haven has shifted

In the post-COVID-19 world, it’s almost definitely news to nobody reading this that gold prices have staged a fairly historic run.
The Market Online Video

From the Wire: Why did the RBA cut last year just to walk it all back 12 months later?

The Reserve Bank of Australia made the call to hike interest rates again in CY26, using its second board meeting to bring them
ASX concept

ASX 200 reacts to an RBA 25bps rate hike by… closing somewhat firmly in the green?

Colour me surprised – the ASX200 successfully priced something in for once, with today’s RBA rate hike not scaring the market down into
India Russia flag

Not just AUKUS indexes: USA’s war on Iran visible on India’s NIFTY; Russia’s MOEX

While the Australian market is busy watching Wall Street, gold, and oil prices – and the prices of relevant stocks exposed to those