AAP

The Australian dollar is higher against its US counterpart amid escalating tension in the Middle East and as oil prices lift three per cent to a two-year high.

Oil prices have risen more than 3 per cent, hitting the highest since early July 2015, as Saudi Arabia's crown prince cemented his power over the weekend with an anti-corruption crackdown, while the US rig count fell and markets continue to tighten.

Gold has risen more than one per cent, extending gains as geopolitical risks drove investors to safe-haven assets after the metal's third-straight weekly decline.

The Australian share market has finished the session in negative territory, with declines in the big banks and the materials sector offsetting a day of strong gains for local oil stocks.

Mining explosives and chemicals manufacturer Orica made the final investment for its ammonium nitrate plant in the Pilbara in September, with final state government approvals expected by the end of

Mining explosives and chemicals manufacturer Orica made the final investment for its ammonium nitrate plant in the Pilbara in September with the final State Government approvals expected by the end

Westpac has lifted its full-year profit 3 per cent to $8.062 billion, boosted by 6 per cent growth in Australian mortgages.

The Australian share market has started the week flat despite positive leads from commodity and international share markets.

The Australian dollar is has resumed its slide against its US counterpart which, after briefly dipping on US jobs data, has continued to strengthen.

Oil prices have risen, with US crude touching a two-year high, strengthening after US rig data suggested drilling in the United States would throttle back.

Gold has fallen to a one-week low as consensus-beating US economic data pushed the US dollar higher, outweighing the impact of a lacklustre jobs report.

The Australian share market has closed at its highest level since April, 2015, with broad gains led by mining, energy and industrial stocks.

The Australian market has opened slightly higher after a mainly positive lead from US markets, with gains from most of the big mining and energy stocks outweighing a mixed performance among the major banks.

The Australian dollar is slightly higher against its US counterpart after the greenback fell following the release of President Donald Trump's tax reform proposal.

Oil prices have edged up, steadying near two-year highs, with the outlook remaining upbeat as OPEC-led supply cuts have tightened the market and drained inventories.

Gold prices have pared gains after touching a two-week high, after Republicans in the US House of Representatives unveil legislation to overhaul the US tax system.

Seven West Media plans to make $25 million of job cuts in response to falling ad revenues and a highly competitive TV market.

The share market's rise to its highest level in nearly a decade has stalled as investors sold off National Australia Bank shares despite the bank's profit growth.

Australia's trade surplus has doubled due to a rise in mining exports that is expected to boost economic growth.

The consumer watchdog will review the standard of service NBN Co delivers to retailers as the largest retailer, Telstra, warns of slim margins due to the wholesale price NBN Co charges.

National Australia Bank will cut 4,000 jobs over the next three years even though it lifted full-year cash profit 2.5 per cent to $6.6 billion.

The Australian share market is barely holding on to gains in early trade after National Australia Bank results dampen investor sentiment despite overnight gains on Wall Street.

The Australian dollar is higher against a strengthened greenback following strong economic data.

Gold has advanced as traders reposition themselves after the Federal Reserve says it will keep target interest rates unchanged for the time being.

Oil prices have dipped in see-saw trade, hitting their highest in more than two years and then retreating after weekly US government inventory data showed the latest crude stock draw was not as big as an industry trade group had reported.

Gains in all but one sector of the share market have lifted the All Ordinaries index above 6,000 points for the first time since the GFC.

Shares in Domino's Pizza have dropped sharply after the Fair Work Commission terminated deals with workers under which they were paid less than minimum award rates.

Shares in Harvey Norman have risen strongly after the corporate watchdog told the retailer it was no longer reviewing its 2015-16 financial report.

Construction major CIMIC Group has reaffirmed its full-year profit guidance after lifting third-quarter profit by 20 per cent.

The Australian share market has opened higher with the All Ordinaries index breaking through the 6,000 mark for the first time since before the global financial crisis.

The Australian dollar has fallen slightly against the US dollar despite there being strong gains on Wall Street overnight.

Gold prices fell on Tuesday as the US dollar was firm for much of the session and precious metals investors turned cautious ahead of central bank meetings this week, US payrolls data and the announcement of the next US Federal Reserve chair.