AAP

The declining spending power of consumers is hurting retailers and pointing to a revenue squeeze for the federal government, economists say.

Loss-making livestock exporter Wellard is undertaking a share placement and entitlement offer as part of a $52 million capital raising it hopes will allow it to exploit a predicted improvement in trading conditions.

Australian stocks are flat following an early dip with investor nervousness ahead of local economic data releases weighing heavily on the market.

Oil prices are slightly higher, although their three-day rally has run out of much of their steam as a higher US rig count signalled rising production from shale, contributing to the global supply glut.

Gold prices are flat but have notched a quarterly gain of about 8.4 per cent, marking its best quarter in a year, as uncertainty over US president Donald Trump's tax and investment plans and elections in Europe fuel demand for bullion as a safe haven.

The Australian dollar is down against its US counterpart as the greenback stays steady in the last New York trading session.

Investors pushed the Australian share market into negative territory as they banked some profits following its strong run over the previous three trading sessions.

The banking regulator has capped interest-only mortgage lending and is prepared to take more action to address growing price and debt risks in the Australian housing market.

The competition watchdog is concerned that the proposed takeover of Bibra Lake-based wheat and barley seed breeder InterGrain by Australian Grain Technologies could substantially lessen competition in the barley seeds sector.

Australian stocks are trading lower, bucking three straight days of gains and a modestly positive finish on Wall Street.

The Australian dollar is hardly changed against its US counterpart as stronger-than-expected US economic growth figures supported the greenback.

Oil prices have jumped for a third day, lifting to their highest in three weeks after Kuwait backed an extension of OPEC production cuts to reduce a global glut.

Gold has dipped as the US dollar has strengthened, but losses were capped by continuing economic uncertainty around Britain's departure from the European Union and approaching French elections.

A third straight day of gains is taking the All Ordinaries index closer to a nine year high of 6,000 points, as investors continue to react to the failure of US President Donald Trump's healthcare reforms.

Clive Palmer's Mineralogy has again failed in its long-running court battle with its estranged Chinese joint-venture partner over the Cape Preston port in the Pilbara.

Water is being pumped out of a disused iron ore mine on a Western Australian island after pit walls slumped, sparking fears it could collapse and contaminate the ocean on the other side.

Australian stocks have edged higher in early trade on the back of a mixed finish in Wall Street, where energy stocks rose, and after rallying to a near two-year high in the previous session.

The Australian dollar is higher against its US counterpart despite the greenback finding support from promises of further Federal Reserve interest rate rises in 2017.

Oil prices are up more than 2 per cent as US crude inventories grew less than expected, supply disruptions continued in Libya and the OPEC-led output cut by producing countries looked likely to be extended.

Gold has edged up, hovering below Monday's one-month high as uncertainty about Brexit talks, French elections and US president Donald Trump's economic policies boosted safe-haven buying and offset a firmer US dollar.

The share market is close to a two-year high after demand for the big four banks, energy producers and miners drove a second straight day of strong gains.

The construction union and some of its key leaders have been fined $242,000 for blocking work on the $80 million Perth International Airport expansion.

The Australian share market has continued higher in early trade, with local investors taking cues from overnight gains on Wall Street.

The Australian dollar has outperformed and retraced lost ground, lifting against its US counterpart, the yen and the euro.

Oil prices has risen as much as 2 per cent after a severe disruption to Libyan oil supplies and as officials suggested OPEC and other producing countries could extend an output cuts deal to the end of the year.

Gold prices have turned lower, after nearing the prior session's one-month high, as the US dollar, Treasury yields and stock markets extend gains.

The share market's benchmark index has risen more than 1.3 per cent to its highest closing level of 2017 as investors put aside their anxieties over US President Donald Trump's ability to implement his agenda.

New Liberal Party WA leader Mike Nahan has written to Bill Shorten asking for his commitment to a GST floor, saying the federal Labor leader cannot be a spectator on the issue.

Myer says it has received no approach from prospective buyers following the huge buy-up that sent the department store operator's shares surging by almost 20 per cent yesterday afternoon.

Western Force chairman Tony Howarth says the club's efforts to succeed have been undermined by Australian rugby powers.

Australian shares have risen with calm returning to global markets after investors took profits following renewed pessimism about US President Donald Trump's ability to implement his agenda.

The Australian dollar is lower against its US counterpart even though the US dollar slid to a near our-month low against a basket of currencies.