AAP

The Australian share market has opened slightly higher after a soft finish on Wall Street overnight.

The Australian dollar is lower against its US counterpart despite the greenback continuing its fall begun following the Federal Reserve's quarter of a per cent interest rate lift and dropping to a five-week low.

Gold has rallied for the second straight session, climbing to its highest level in more than a week after the US central bank signalled only gradual rate tightening and the US dollar slid to its lowest in five weeks.

Oil prices have slipped, as support from a weaker US dollar was offset by US crude inventories near record high levels that again has raised concerns whether OPEC-led output cuts are starting to drain a global glut.

The Australian dollar remains just shy of US77 cents but the share market has surrendered most of its early gains in the wake of disappointing jobs figures.

National Australia Bank is hiking its standard variable mortgage rate by 0.07 percentage points for owner-occupiers, and by even more for investors.

Labor has won a landslide 41 seats in the Western Australian election, while the Liberals and the Nationals fight it out for the last undecided seat.

Mining stocks have helped push up the Australian share market, after Wall Street lifted following the US Federal Reserve's interest rate rise.

The Australian dollar has surged against its US counterpart, lifting more than a cent to close to 77 US cents, as the greenback falls following the Federal Reserve' interest rate rise.

US stocks have risen sharply after the Federal Reserve raised interest rates for the second time in three months, as expected.

Oil prices have climbed for the first time in more than a week on a surprise drawdown in US crude inventories and data from the International Energy Agency (IEA) suggesting OPEC cuts could create a crude deficit in the first half of 2017.

Spot gold has rallied more than 1.5 per cent to a one-week high, as the US Federal Reserve calls for gradual monetary tightening after raising interest rates by an expected 25 basis points.

Australian cricket has lost first-class experience after WA skipper Adam Voges, who was one of this year's 40under40 winners, retired from the domestic ranks today.

The share market has staged a late recovery to close in positive territory for a second consecutive session, with the heavyweight mining sector the key area of strength.

The head of the consumer watchdog says some large companies are deliberately trying to deceive customers and that the effects are widespread.

Australian shares are trading lower, with investors cautious ahead of a divisive Dutch election and an expected US interest rate rise.

The Australian dollar is little changed against its US counterpart despite the greenback lifting ahead of the Federal Reserve's decision on whether it will raise its interest rate this month.

Oil has tumbled after OPEC reports a rise in global crude stocks and a surprise output jump from its biggest member, Saudi Arabia, further pressuring prices that have now erased nearly all gains since OPEC announced production cuts in November.

Gold prices are little changed as an expected US interest rate rise boosts the US dollar and weighs on the precious metal, but political risks in Europe provide safe-haven support.

The share market has closed almost flat as a disappointing domestic business confidence survey and Chinese economic data contributed to the loss of early gains.

Soaring gas prices on Australia's east coast are making manufacturing difficult or even impossible, the competition watchdog has warned, as a gas 'crisis' puts jobs in brickmaking and other industries at risk.

Old houses in Britain and Ireland are a key reason home improvement giant Bunnings expects its UK expansion to be a success.

WA Nationals leader Brendon Grylls, who was the target of a $2 million mining industry advertising campaign, today conceded he's lost his seat of Pilbara to Labor's Kevin Michel.

The Australian share market is gaining strength, thanks to the heavyweight materials sector on the back of higher commodity prices after a mixed performance on Wall Street.

The Australian dollar is slightly higher against its US counterpart as the greenback remains steady ahead of the Federal Reserve's interest rate decision.

Oil prices are steady to soft after touching three-month low, testing a slide that began last week when the market became less optimistic that OPEC's efforts to restrict output would reduce a global oil glut amid swelling US. supplies.

Gold prices are little changed as the prospect of an imminent interest rate rise keeps them near the five-week lows touched last week, while elections in Europe create uncertainty and fuels investor buying.

US stocks ended little changed in light volume on Monday, with traders eyeing a Federal Reserve meeting expected to result in an interest rate increase later this week.

The Australian share market has closed lower after suffering widespread losses across the financials, healthcare and retail sectors and a sharp sell-off in energy companies.

The incoming Labor government is already warning Western Australians the state's record debt pile could take decades to overcome.

Premier-elect Mark McGowan says his ministry will be a mix of experience and youth, and has again indicated he'll have the final say in its makeup.

Western Australia's Liberal MPs are considering a new leader to replace Colin Barnett after the weekend's crushing election defeat.