AAP

The Australian dollar is steady against its US counterpart in early trade on Wednesday after rebounding in the previous session on positive Chinese and Australian manufacturing data.

Gold prices rose one per cent to a near 3-week high on Tuesday as early gains in stocks and other assets perceived as risky gave up gains and investors fled to save-haven bullion.

Oil prices slid more than 2 per cent on the first trading day of 2017, knocked off 18-month highs hit in early trade as the U.S. dollar rallied to its highest level since 2002 and traders took profits.

Wall Street has risen sharply as a post-election rally extended into the new year, helped by gains in Verison Communications and technology companies Alphabet and Facebook.

The Australian share market has started 2017 positively, closing above 5,700 points for the first time since June 2015 as stocks across the board made gains.

Hills will no longer make and sell the Hills Hoist but the iconic Aussie clothesline will live on under new ownership.

Australian factory activity picked up last month on the back of improving demand and recovering commodity prices.

ANZ is continuing to offload Asian assets with the sale of its 20 per cent stake in Shanghai Rural Commercial Bank for $1.84 billion.

The Australian share market has climbed to a 17-month high in early trading during the first session of 2017, mirroring gains in European markets on Monday.

The Australian dollar has again slipped close to its lowest level since March 2016 after worse-than-expected Chinese economic data over the weekend.

Oil prices settled slightly lower on Friday, the year's last trading day, but attained their biggest annual gain since 2009, after OPEC and partners agreed to cut output to reduce a supply overhang that has depressed prices for two years.

The Australian share market has closed at a 16-month high thanks partly to offshore markets' Trump-fuelled rallies, with strong gains locally coming from retailers and banks.

Israeli authorities placed billionaire businessman Beny Steinmetz under house arrest on Monday over allegations of bribery and corruption in Africa linked to his mining company, BSG Resources (BSGR) a

The Australian share market is trading slightly higher in early trade after positive cues from Wall Street, but is expected to remain rangebound as volumes wind down ahead of the Christmas break.

The Australian dollar is lower with the greenback's continuing strength trumping any local economic developments.

Gold prices have edged higher as geopolitical tensions offset expectations of tighter US monetary policy and a stronger US dollar.

Oil prices were little changed in quiet pre-Christmas trade as the market waited to see whether US production from shale fields would grow enough to offset planned output cuts by OPEC, Russia and other producers next year.

Wall Street has extended a recent rally but finished the session short of earlier highs after several people were killed by a truck driven into a Christmas market in Germany.

The Australian share market has closed higher as investors took some comfort that Australia's triple-A credit rating seems secure for now, following the federal government's mid-year economic update.

Australia has managed to hold on to its prized triple-A rating despite the federal government forecasting a deterioration in the budget bottom line in the medium term.

 Fortescue Metals Group said today its proposed joint venture with larger Brazilian miner Vale, for blending their iron ore at key Chinese ports, could fall over.

The Australian share market is trading higher in early trade as investors await the release of the federal government's mid-year economic forecasts.

Gold rose on Friday, climbing above the prior session's 10-1/2 month low, as the dollar and US stocks dipped at the end of a volatile week highlighted by the Federal Reserve's signal that there could be more rate hikes than previously expected in 2017.

Oil rose on Friday, edging closer to new 17-month highs, after Goldman Sachs boosted its price forecast for 2017 and producers showed signs of adhering to a global deal to reduce output.

Copper prices fell on Friday after two days of gains as rising stocks in London Metal Exchange warehouses and signs of softer demand from China dragged the metal further away last month's 17-month peak.

The Australian dollar has slipped again against its US counterpart, which has further strengthened after the US Federal Reserve said it is looking to tighten policy again next year.

The Australian share market has closed lower, weighed down by weaker resources stocks, as investors ponder more potential interest rate hikes in the US in 2017 than had been expected.

A group of One Nation supporters has lodged an objection to Pauline Hanson registering her party in Western Australia ahead of next year's state election.

National Australia Bank has called for greater leadership from government and more collaboration with business to help lift slow economic growth and create jobs.

Iron ore miner Fortescue Metals Group will next week repay $US1 billion ($A1.4 billion) of its term loan due in 2019.

The share market has been relatively steady, as falls by resources stocks are offset by gains in other sectors.

The Australian dollar has dropped as the US dollar gains further ground following the US Federal Reserve's recent interest rate hike, with the central bank forecasting another three rate rises next year.