AAP

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.

Gold fell more than one per cent to a 10.5 month low on Thursday after the US Federal Reserve sounded an unexpectedly hawkish note on US interest rates, sparking a surge in Treasury yields and sending the dollar to a 14-year high.

Oil settled little changed on Thursday after sliding to its lowest level in a week in volatile trade, but a surging US dollar did not pressure prices below technical support levels as OPEC members told customers they would cut crude supplies.

US stocks rose on Thursday, led by gains in bank shares, a day after the Federal Reserve raised interest rates for the second time in nearly a decade.

Energy and resources companies including Santos, Origin Energy and Newcrest Mining have dragged the share market lower following a drop in oil prices and the US Federal Reserve's rate hike.

Fuel refiner and retailer Caltex Australia expects its underlying profit to fall by about 20 per cent because of weaker margins in its refining operations.

Casinos giant Crown Resorts has dumped plans to spin-off its international assets and further reduced its stake in its Macau joint venture, Melco Crown Entertainment amid a suite of strategic changes.

The Australian share market is lower in early trade, following overnight falls on Wall Street after the US Federal Reserve cut its benchmark interest rate and flagged three more rate cuts next year

The Australian dollar has plunged, falling more than one US cent in overnight trade in the wake of the US Federal Reserve's move to lift its benchmark interest rate by a quarter of one per cent.

Gold turned lower and tapped the lowest in more than 10 months on Wednesday, after the Federal Reserve raised US interest rates by a quarter point and signalled a faster pace of increases next year, causing the US dollar to rally.

Oil prices slid more than three per cent on Wednesday as the dollar jumped after the US Federal Reserve's decision to hike US interest rates and after a jump in crude inventories at the biggest US storage centre renewed concerns about a glut.

US stocks fell the most in two months on Wednesday after the Federal Reserve raised interest rates by a quarter point and signalled hikes could come next year at a faster pace than some expected.

The share market has closed higher with almost all sectors in positive territory ahead of the US central bank's interest rate decision.