AAP

Gold has fallen nearly two per cent to a four-week low, sliding for a fifth straight session as prices come under pressure from a rising US dollar and speculation that the Federal Reserve may lift interest rates this year.

The Australian share market is over 1 per cent higher, ending a six session losing streak, after the Reserve Bank left the door open for a another rate cut.

Western Australia Labor's left faction is hoping to oust Gary Gray from the federal seat of Brand, saying he should be an independent if he doesn't want to toe the state party line.

Construction giant Cimic's Leighton Contractors unit has secured a contract from BG Group for setting up gas infrastructure in Queensland's Surat Basin.

Takeover target Asciano is hopeful Canada's Brookfield Infrastructure can still pull off its $8.9 billion bid, despite local logistics firm Qube moving to block the marriage.

The Australian share market has opened higher on positive US leads and ahead of a possible Melbourne Cup day interest rate cut.

The Dow has pushed back into positive territory for 2015, lifted by a technical bounce in petroleum shares and data showing a seven-year peak in US construction spending.

The Australian dollar has edged lower ahead of the Reserve Bank's interest rate decision.

Oil prices have dropped after data showed China's manufacturing output continued to contract and Russian oil production hit a new record high.

The Australian share market has been dragged down by Australia's biggest companies as global investors steer away from risk assets ahead of Tuesday's Reserve Bank of rate decision.

Businesses are benefiting from the "Turnbull effect" but that won't necessarily stand in the way of an interest rate cut when the Reserve Bank of Australia holds its Melbourne Cup day board meeting.

Perth home prices have suffered a steep fall in October, dropping almost 3 per cent as the number of new dwellings on the market surges.

Westpac expects a pickup in business lending to help prop up earnings this year amid a slowing housing market.

The Australian share market has opened relatively flat as investors await the Reserve Bank of Australia's decision on interest rates, and key economic data from the United States.

The Australian dollar is stronger ahead of key Chinese Caixin, private sector, manufacturing data due out on Monday.

Gold has fallen to a three-week low, extending two days of losses and heading for its biggest weekly drop since August on the chance the US Federal Reserve may still raise interest rates this year.

Poor performances from the banking and minerals sectors have pushed the Australian share market down almost half a per cent.

Macquarie Group is on track for a record annual profit above $2 billion due to a falling Australian dollar and improving market activity.

The Australian share market has opened around one per cent lower, pulled down by the major banks, miners and supermarket operators.

Talks between Pfizer and Allergan have raised the prospect of a mega-merger in the pharmaceutical industry as the broader US stock market finished slightly lower.

The Australian dollar has slipped further, weighed down by renewed speculation about a US interest rate rise in December.

Oil prices were little changed as traders' worries about abundant global supplies returned to the fore a day after a rally fuelled by bargain hunting from prior slumps.

Gold has fallen for a second day, reaching its lowest level in three weeks, after the Federal Reserve hinted at a possible US interest rate rise in December.

A profit warning from supermarket giant Woolworths and its contagious impact on Coles-owner Wesfarmers have weighed on the share market.

Woolworths is taking a massive profit hit from its price war with Coles and Aldi, with the supermarket giant conceding that a recovery could be several years away.

Westpac is offering refunds to more than 10,600 customers found to be paying for insurance they did not need.

Newcrest Mining's quarterly production is likely to be hit after the gold producer it confirmed a mill at a major mine will remain out of action.

WorleyParsons shareholders are seeking tens of millions of dollars from the engineering and construction giant, alleging they were misled over earnings forecasts.

ANZ Banking Group has lifted its cash profit to $7.22 billion, although its record result was at the lower end of analyst expectations.

The decision to keep rates unchanged in the US has given a note of confidence to the Australian share market, despite supermarket giant Woolworths shedding eight per cent of its value.

The Australian dollar has fallen below the 71 US cent mark after the US and New Zealand both left interest rates unchanged.

Gold prices have fallen in their weakest session in a month, with the market turning lower after the US Federal Reserve left the door open to a possible interest rate rise in December and the US dollar hit a two-and-a-half-month high.