AAP

Rio Tinto has again extended its joint venture agreement with Chinese state-owned steel company Sinosteel to sell its Pilbara iron ore.

Australian shares are trading lower in early trade, with investors wary after a sharp decline in the Chinese markets on Thursday and with Wall Street closed for a public holiday.

US crude has hit a two-year high in thin trade as the shutdown of a major crude pipeline from Canada and a draw on fuel inventories pointed to a tightening market, despite rising output from US producers.

The Australian dollar is higher against its US counterpart which has sustained further losses as investors trim bets on the outlook for US interest rate rises in 2018.

Gold prices have steadied to trade nearly flat after rising nearly one per cent in the previous session as the dollar extended its swoon amid reduced expectations for US interest rate hikes next year.

The share market has closed flat as gains in the resources sector were offset by falls by the banks and consumer related stocks.

Diversified miner South32 has again issued a warning about cost pressures, saying it expects raw material input prices to rise across the industry.

Australian shares have see-sawed in a narrow range in listless early trading, as investors cautiously scout for cues on the market's direction.

The Australian dollar has surged nearly half a cent is back above 76 US cents after the US dollar, along with Wall Street equities, fell following disappointing US durable goods data and the Federal Reserve chief's dovish commentary.

Oil has pared gains after US crude stockpiles fell less than an industry group's expectations, but remained near a two-year high as the shutdown of one of the largest crude pipelines from Canada cut supply to the United States.

Gold prices have risen amid a falling US dollar on technical factors and weak US economic data.

Speculation about the launch of global retail giant Amazon in Australia is growing following the leak of a company email suggesting it could happen as soon as this week.

Construction work has spiked for a second straight quarter, far outpacing market expectations, but economists suggest the numbers could flatter to deceive.

The Australian share market has closed higher as stronger commodity prices boosted energy and mining stocks.

Australian shares have opened stronger thanks to a lift in some commodity prices and fresh gains on Wall Street overnight.

The Australian dollar has recovered some ground against its US counterpart, which was weaker against major currencies and after the central bank governor reiterated confidence in the interest rate trajectory.

Gold bounced up slightly on Tuesday, as a weaker U.S. dollar gave bullion a boost after the previous day's sharp decline and as investors awaited the minutes, due on Wednesday, of the Federal Reserve meeting held in November.

Oil edged up on Tuesday, supported by expectations that OPEC and other producing countries next week would extend output cuts, but signs of higher U.S. crude output kept prices under pressure.

The share market has edged higher due to modest gains in most sectors, while the Reserve Bank's concerns about slow wages growth have driven the Australian dollar to a five-month low.

A Brazilian court has granted an additional 150 days for BHP Billiton, Vale and their joint venture, Samarco, to negotiate a settlement of multi-billion dollar public civil claims over the 2015 mine dam collapse in that country.

The banking regulator is still concerned about the size of the mortgages being taken on by consumers despite the effectiveness of its efforts to curtail housing market risks.

The Reserve Bank remains doubtful about the timing of a return to meaningful growth in wages and a boost to stagnant inflation.

Australian shares have reversed Monday's losses and opened stronger following positive finishes in the US overnight.

The Australian dollar is lower against a slightly strengthened US dollar as some risk sentiment unexplainably returns to the markets.

Oil prices have fallen, extending recent weakness ahead of next week's OPEC meeting, while a rally in the US dollar hurt commodities across the board.

Gold has fallen more than one per cent, giving up the prior session's gains on pressure from the rising dollar, expectations for US interest rate hikes and as the market entered a holiday week.

The Australian share market has closed lower despite recovering much of the ground lost in early trade due to a negative lead from overseas markets

The Australian share market has come under pressure in early trade as investors take cues from a weak close on Wall Street on Friday and a lack of local drivers.

The Australian dollar has hit a five-month low against its US counterpart before recovering to be little changed.

Oil has rebounded more than two per cent after falling for five straight session as a major US crude pipeline was shut and traders anticipated an OPEC deal to extend curbs on production.

Gold has jumped to a one-month high as the dollar softened on uncertainty about the progress of a proposed overhaul of the US tax code that would be the biggest since the 1980s.

The $11 billion merger of gaming giants Tabcorp and Tatts Group is back on track for now, after the Australian Competition Tribunal gave the deal a green light for a second time.