AAP

The Australian dollar has bounced back overnight and is higher against the US dollar which has preserved its recent gains but made little headway.

Wall Street has edged higher as retailer Macy's strong results helped drive gains in retails stocks and more than offset losses in energy shares.

Oil prices have gained ground, shaking off the effects of a strengthening dollar, after an inventory report showed US crude and petrol stocks fell more than expected.

The Australian share market closed higher as energy companies were boosted by higher oil prices.

Myer has warned unseasonably warmer weather could dent its fourth-quarter profit after third-quarter sales dipped 2.7 per cent to $635.3 million.

Australian shares have opened slightly higher, shrugging off a fall on Wall Street overnight, helped by overnight gains in oil prices and a lift in mining stocks as the Aussie dollar falls

The Australian dollar is lower after US stocks fell almost one per cent, amid worries about US-China trade relations and the release of disappointing US retail spending figures.

Oil prices settled a shade firmer after retreating from multi-year highs hit early in the day on Tuesday, supported by concerns that US sanctions on Iran are likely to restrict crude exports from one of the biggest producers in the Middle East.

Gold slid more than one per cent on Tuesday, falling for a third day to hit its lowest this year as a rise in US borrowing costs pushed up the US dollar and overshadowed the impact of strife in Gaza.

The Australian share market lost ground amid widespread losses, including sharp falls in the telco sector following Telstra's earnings warning.

Australian shares have opened marginally lower after US stocks handed back earlier gains to finish only slightly higher.

The Australian dollar is lower after US stocks handed back earlier gains to end the session only slightly higher, and copper prices fell.

Oil prices rose on Monday as OPEC reported that the global oil glut has been virtually eliminated, while US crude's discount to global benchmark Brent widened to more than $7, its deepest in five m

Gold slipped on Monday as the US dollar strengthened and precious metals prices remained within a tight range as investors awaited key US data.

The Australian share market has closed higher, with gains in the resource and healthcare sectors overshadowing a hefty fall in Telstra shares to an almost seven-year low.

Julie Bishop and Mathias Cormann have backed the Liberal Party's decision not to contest the Perth and Fremantle by-elections, saying it would be a waste of money.

Australia's second-largest private hospitals operator, Healthscope, has received a $4.35 billion takeover offer from a Canada based firm.

Telstra expects earnings to be at the bottom end of its full-year guidance range and has flagged challenging conditions to continue in the year ahead.

Australian shares have started the day virtually unchanged, following a soft offshore lead after US equities ended trade mixed on Friday.

The Australian dollar is slightly higher, after a Wall Street had a mixed session on Friday and most base metals prices were lower.

Crude prices fell in a see-saw session on Friday, retreating after early gains as it looked likely that US allies would push to maintain a deal with Iran, which could keep that country's crude exports on global markets.

Gold prices were flat on Friday, as the US dollar weakened and investors grew a bit less confident about prospects that the Federal Reserve would raise interest rates three more times in 2018.

The Australian share market softened in late trade to finish the day in the red but ended the week around one per cent stronger, as big resource players benefit from soaring oil prices and sustained strength in iron ore.

Rio Tinto, Apple and Alcoa have invested $C188 million ($195.5 million) to commercialise a new aluminium smelting process that reduces carbon emissions.

Four children are among seven people found dead at a rural property near Margaret River.

WA Labor MP Anne Aly claims that a letter from the Egyptian embassy regarding her citizenship has “put the matter to rest" following concerns surrounding her eligibility for parliament.

The Australian share market has opened slightly higher after oil and base metals prices rose, and Wall Street enjoyed strong gains.

The Australian dollar is higher after the US dollar lost ground on the back of some disappointing US inflation data.

Crude prices ended the session slightly higher on Thursday as investors weighed the potential disruption to oil flows from major exporter Iran in the face of US sanctions.

Gold prices rose on Thursday as the US dollar backed away from 2018 highs after weaker-than-forecast US inflation data and as tensions between the United States and Iran also supported the precious metal.

The Australian share market has hit a three-month high as surging oil prices fuelled a second straight day of big gains for the energy sector.

Angry shareholders have put AMP's board on notice, delivering a 'first strike' with a huge vote against the company's executive pay report.