AAP

Malcolm Turnbull is promising to more than double the amount of funding for indigenous students in Western Australia over the next decade as he drums up support in the west.

The Australian dollar is steady against the greenback which has slipped on uninspiring US growth and continued political uncertainty.

Gold prices have risen to a six-week high after weaker-than-expected US inflation dampened expectations that the US Federal Reserve will aggressively raise interest rates and North Korea fired a ballistic missile, triggering safe-haven buying.

Oil has ended its strongest week this year with a surge built on receding fears of oversupply, as US crude came within striking distance of $US50 a barrel for the first time since the end of May.

The Australian share market has closed sharply lower amid a broad sell-off, including heavy losses from the big four banks.

West Coast veteran Matt Priddis insists it was his decision to retire, saying he wasn't pushed by the AFL club.

Brickworks has sold its Austral Bricks factory in Malaga for $19.2 million, a facility it formally put up for sale in April after it was shut down last year due to declining demand for residential building products in Western Australia.

The Australian share market has slid in early trade, with investors turning cautious after a mixed lead from Wall Street and ahead of the start of the corporate earnings reporting season.

The Australian dollar is sharply lower against its US counterpart which has rebounded following solid US durable goods figures.

Oil prices have risen to an eight-week high, as a rally in US petrol futures spurred further gains this week that came after key OPEC members pledged to reduce exports and the US government reported a sharp decline in crude inventories.

Gold has fallen from a six-week high, pressured by the US dollar's bounce on solid US economic data and as traders digested the Federal Reserve's Wednesday statement that showed it was closer to paring its balance sheet.

The Australian dollar has soared passed 80 US cents for the first time in over two years as diminished expectations for rate hikes in the US dented the greenback. The share market also rose as stronger iron ore and copper prices boosted mining stocks.

Macquarie Group expects its 2018 financial year profit result to be broadly in line with its previous year record profit of $2.2 billion.

Fortescue Metals Group expects to trim its costs further this year and is targeting steady iron ore shipments in the 2018 financial year after posting a solid fourth quarter performance.

The Australian dollar has strongly rebounded against the greenback, hitting 80.06 US cents, on the back of a collapse in the US dollar, while the local share market has opened higher.

The Australian dollar has strongly rebounded against its US counterpart but the local share market looks set for a flat open.

Oil prices have risen to near eight-week highs, with Brent crude futures above $US50 a barrel, as a much steeper than expected decline in US inventories encouraged hopes the global crude glut would recede.

Gold has jumped 1 per cent to a six-week high on Wednesday, after the US Federal Reserve said it would start to wind down its massive holdings of bonds "relatively soon," pushing the dollar lower.

The Australian share market has ended the day strongly, following positive leads from Wall Street and strong rises in the oil and commodities markets.

Australia's inflation rate has cooled in the June quarter, dragging the annual headline rate below the central bank's target in the 2 to 3 per cent range.

Car maker Ford's Australian business is facing legal action for allegedly giving customers the bum steer about ‘systemic issues’ concerning transmissions in several of its models, and blaming drivers for the problem.

A healthy company earnings story coming out of the US is buoying the Australian market, led by the major miners.

The Australian dollar is slightly lower against its US counterpart, as it trades in a tight range ahead of the release of local inflation figures.

Oil rose 3.3 per cent on Tuesday to the highest close in more than a month, a day after US oil producer Anadarko said it would cut capital spending plans and Saudi Arabia vowed to reduce crude exports to help curb global oversupply.

The Australian share market has closed higher as bargain-hunting investors ignored a mixed lead from US markets and lifted most stocks across the board.

Shares in Cola-Cola Amatil have fizzled following news Woolworths will pull all but two of the beverage giant's Mount Franklin water products from shelves.

One of WA's biggest egg producers has been slugged more than $1 million after it deceived shoppers by falsely labelling some of its products free range, and consumer class action may follow.

A class action against failed electronics chain Dick Smith on behalf of disgruntled shareholders has been given the green light.

The Australian share market has lifted in early trade, bouncing back from its previous session's losses, with investors also shrugging off mixed results on Wall Street overnight.

The Australian dollar is flat against its US counterpart with little news to drive markets.

Oil has risen more than 1 per cent, after leading OPEC producer Saudi Arabia pledged to cut exports in August to help reduce the global crude glut, and Halliburton Co's executive chairman said the US shale drilling boom would probably ease next year.

Gold prices have pared gains as the US dollar has turned slightly higher, after bullion rose to a one-month high as political turmoil in the United States boosted sentiment ahead of a Federal Reserve monetary policy meeting this week.