AAP

Gold prices have fallen to their lowest level in nearly a month as rising bond yields and the dollar dented the allure of safe-haven assets.

Oil prices edged lower overnight after US President Donald Trump fired national security adviser John Bolton, who took a strident stance against Iran, raising speculation of a return of Iranian crude exports to the market.

The Australian share market has suffered its first loss in four days, with every sector except energy shares and financials in the red.

Live animal exports will be policed by an independent inspector-general under legislation poised to pass federal parliament.

Farmers are upbeat in west and south of the country after a drop of winter rain, though confidence in the drought-affected eastern states continues to crumble.

Oil prices rose about 2.0 per cent on Monday after the new Saudi energy minister, Prince Abdulaziz bin Salman, confirmed expectations that he would stick with his country's policy of limiting crude output to support prices.

Gold has fallen to a more than two-week low, briefly breaking below the key $US1,500 support, as renewed risk appetite and gaining US yields outweighed support for bullion from expectations for interest rate reductions by top central banks.

The Australian share market has had a flat start to the trading week, as concerns about global growth balanced easing US-China trade tensions.

Australian shares are flat in early trade as the miners and banks pull in opposite directions.

Oil prices have risen above $US61 a barrel after the head of the US Federal Reserve said the central bank will act "as appropriate" to sustain an economic expansion in the world's biggest economy that has been pressured by uncertainty over global trade.

Gold has fallen one per cent as upbeat remarks from Federal Reserve Chair Jerome Powell and improved risk appetite offset a weaker-than-expected US nonfarm payrolls report.

Australian shares have gained for a second day on the back of optimism that trade tensions could be easing, with tech stocks the standout performers as investors regain their appetite for risk.

Westpac says it has been hit by a class action lawsuit over superannuation fees.

Andrew Forrest-backed Poseidon Nickel has edged closer to restarting operations at its Black Swan project in Western Australia following a recent surge in nickel prices.

Fortescue Metals Group has completed a $US600 million ($A880 million) bond offering at it refinances its debts.

Oil prices are little changed as support from a sharp drawdown in US crude inventories was countered by fears of slowing global demand growth amid doubts over resolving the US-China trade feud.

Gold has slumped more than 2.0 per cent and silver fell over 4.0 per cent as stronger-than-expected US economic data and hopes of a thaw in the US-China trade war boosted Treasury yields and soothed fears of an economic slowdown, driving riskier assets higher.

Australian shares have joined a broad global rally following news that the US and China have agreed to another round of trade talks.

Myer shares have climbed nearly 12 per cent on a better-than-expected full-year profit, but the department store chain's sales are still falling.

TPG Telecom's full-year profit has slumped 56.1 per cent to $173.8 million after the internet provider copped a $196.1 million hit from scrapping its planned mobile network.

Oil prices have risen by more than 4.0 per cent, boosted by a wider market pickup on positive news from China, after three days of losses due to fears about a weakening global economy.

Gold has jumped to a fresh six-year high as focus returned to economic woes with 10-year US Treasury yields slumping to a three-year low.

The Australian share market has trimmed its losses late in the session but still finished the day lower, while the Aussie dollar has touched its highest point in more than a week.

An overhaul of the list of jobs Australia needs migrants to help fill will aim to get more locals into apprenticeships and more immigrants into regional areas.

Flow tests from the deepest well ever drilled in Australia are expected within days, but it has already refocused attention on the oil and gas industry in the Perth basin.

Oil prices fell overnight, with US crude futures down 2.0 per cent after manufacturing data raised concerns about a weakening global economy while the US-China trade dispute continued to drag on investor sentiment.

Gold rose more than 1.0 per cent overnight after weak manufacturing data from the United States reinforced fears of an economic downturn while uncertainties over US-China trade ties and Brexit further boosted bullion's safe-haven appeal.

The Australian share market has finished the day flat, while the Aussie dollar dipped to close to a recent 10-year low on weak retail sales figures.

The Reserve Bank has left the cash rate unchanged at a record low 1.0 per cent as it maintains its wait and see approach to June and July's cuts.

Australia has posted its first current account surplus in 44 years with a $5.9 billion surplus for the June quarter.

The Australian share market has closed lower for the first time in five days, with telecom and energy shares leading losses.

Oil prices weakened overnight after new import tariffs imposed by the United States and China came into force, raising concerns about a further hit to global economic growth and demand for crude.