AAP

The Australian share market has edged slightly lower in early trade, despite a nearly flat session on Wall Street and continued strength in oil prices.

The Australian dollar has slipped against its US counterpart as investors back the greenback going into Friday's key US jobs report.

Gold fell for the eighth straight session on Thursday, slipping to a four-month low, pressured by a stronger dollar after U.S. weekly jobless claims fell and ahead of key data that could put the Federal Reserve on track to raise interest rates this year.

Oil rose more than 1 per cent to four-month highs on Thursday, spurred by another informal OPEC meeting on output cuts and plunging U.S. crude inventories, with some saying the market has overshot itself with a near 15-per cent gain in seven sessions.

Changes to freeway merging lanes have provided a welcome boost to Perth drivers, with the recent changes improving traffic flow and cutting journey times.

Strong gains by energy and mining stocks and the major supermarkets have driven the share market higher.

Perth-based Hillcrest Litigation Services is transforming into a baby food company after signing an agreement to acquire the manufacturer of Bubs Organic products.

One Nation Senator Rod Culleton has attacked the judiciary in a press release after his latest court loss, demanding the civil matter be heard by a jury.

The Australian share market is higher in early trade, helped by positive cues from Wall Street and strong gains in energy prices.

The Australian dollar has fallen against the greenback with stronger-than-expected economic data lifting the US currency.

Gold is little changed with the US dollar paring gains, after bullion inched down to the lowest in more than three months following the previous day's sharp sell-off and a technical break well below the key $US1,300-an-ounce level.

Oil prices have settled up about two per cent, hitting their highest since June, after the fifth unexpected weekly drawdown in US crude inventories added to support on hopes that major producers will agree to cut output next month.

The share market recovered some of its early falls but still closed in negative territory as sentiment remained subdued on strengthened expectations of a rate hike by the US Federal Reserve.

One Nation Senator Rod Culleton has again failed in his bid to challenge a three-year-old court judgment ordering him to pay $205,000 in damages to former Wesfarmers director Dick Lester.

ANZ Banking Group has pledged to consider cutting credit card rates and stopping its millions of dollars in political donations, as its boss apologised for failing customers.

South African retailer Woolworths Holdings, the owner of David Jones and Country Road, is set to add Politix, another Australian brand, to its mix.

The Australian share market has opened lower

The Australian dollar is half a cent lower against its US counterpart after risk sentiment soured on the back of a report saying the European Central Bank would taper its bond buying program.

Gold has slumped more than three per cent, reaching its lowest price since Britain's shock vote to leave the European Union in June, as the US dollar has rallied after upbeat US data.

Oil has settled slightly lower in choppy trade as a surging US dollar and anticipation of higher US crude stockpiles offset optimism about planned OPEC output cuts that initially took Brent to four-month highs.

The Australian share market has rebounded to finish slightly higher after the Reserve Bank held the cash rate at 1.5 per cent.

Commonwealth Bank of Australia boss Ian Narev would be the first to admit his bank could improve in some areas, but he has told a parliamentary committee the bank was doing better at listening to customers and was committed to efficient redress.

Mining giants Rio Tinto and BHP Billiton say they have no intention of taking up the state government's offer to change how they pay the controversial iron ore lease rental that Nationals WA leader Brendon Grylls wants to hike.

New Reserve Bank governor Philip Lowe kept a steady hand at the tiller using his first monthly board meeting to leave the cash rate at record low 1.5 per cent.

A lack of clear information in Australian broadband advertising is contributing toward unrealistic expectations of internet speed, the chairman of the consumer watchdog says.

Netflix rival Presto will close at the end of January after Seven West Media agreed to sell its 50 per cent stake in the streaming service to co-owner Foxtel.

The Australian share market is lower, reflecting the weakness in global markets overnight and nervousness by investors ahead of the Reserve Bank's decision on local rates.

US stock investors have had a weak start to the fourth quarter, with financials, consumer staples and utilities pulling the S&P 500 lower.

Oil has risen more than one per-cent, with Brent settling above $USUS50 a barrel the first time since August and US crude hitting three-month highs, after Iran exhorted the need for other oil producers to join OPEC in supporting the market.

Gold prices have slipped as the US dollar gained on stronger-than-expected US manufacturing data and investors awaited jobs data later this week for clues about whether US interest rates would rise by the year-end.

The Australian dollar is slightly higher against the US dollar on increased risk appetite, with the Reserve Bank of Australia widely expected to keep the cash rate on hold later on Tuesday.

Strong gains among financial and energy stocks have driven the share market higher despite lower trading volumes as most states break for a public holiday.