AAP

The Australian dollar has hit a one-and-a-half-month high after the cash rate was kept unchanged and the release of very strong housing figures.

Oil prices have moved sideways as traders awaited the weekly US petroleum report and an OPEC meeting seen as unlikely to reduce output despite persistently weak prices.

Gold has risen for a second day, rebounding from last week's five-and-a-half-year low, as a retreat in the US dollar prompted investors to cover short positions ahead of a European Central Bank (ECB) meeting and US payrolls data this week.

The Australian share market has made strong gains as investors took heart from economic data out of China and prices for gold, oil and copper lifted in Asia.

The Reserve Bank has refused to play Santa for home owners this Christmas.

Home values in Perth rose by 0.3 per cent in November to a median of $499,000, while the combined capitals index dropped 1.5 per cent.

Sandalwood producer TFS Corporation has more than doubled its quarterly net profit as it revalued trees and sold plantations.

The Australian share market is higher as investors buy into undervalued mining and banking stocks.

The US dollar pared gains after hitting an eight month high against major currencies, while the prospect of further European Central Bank stimulus dragged the euro, and oil futures fell on worries about a growing supply glut.

The Australian dollar is back above 72 US cents as traders wait for the outcome of the Reserve Bank's board meeting.

Oil prices have finished a bit lower ahead of an OPEC meeting expected to maintain policies that have kept prices down.

Gold has lifted 1 per cent but remains close to its lowest level in almost six years, and is on track for its steepest monthly slide in two-and-a-half years on prospects of a US interest rate rise in 2015, as the US dollar hit a multi-month high.

A Perth-based company that hopes to join the growing medical marijuana market in the US plans to list on the ASX next year.

The Australian share market has closed lower as China's economic slowdown weighs on prices for industrial metals such as copper, nickel and zinc.

Local Government Minister Tony Simpson says he's aware Perth Lord Mayor Lisa Scaffidi is threatening to resign in the face of another inquiry into her conduct.

Shares in electronics retailer Dick Smith have halved after a sales downturn forced it to abandon its profit forecast.

Supermarket wholesaler Metcash has suffered a 12.7 per cent decline in underlying earnings as the food and grocery price war eats into its bottom line.

The Australian share market is trading flat on the last day of the month following minimal leads from overseas markets.

The Australian dollar has fallen below 72 US cents as last week's weak business investment figures and falling commodity prices weigh on the currency.

Gold has dropped almost two per cent to a near six-year low, set for a sixth straight weekly decline under pressure from a firm US dollar and prospects of a US interest rate rise in December.

The Australian share market has faded into the red after a positive start, dragged back by the absence of a lead from US markets, and investor fatigue.

Australia Post has been given the thumbs up by the consumer watchdog to raise the price of a basic stamp by more than 40 per cent while taking longer to deliver the letters they are stuck on.

The Australian share market has opened higher, following positive leads from European bourses overnight with Wall Street closed for the Thanksgiving holiday.

The Australian dollar is slightly lower as currency traders largely sit on the sidelines ahead of a flurry of key economic data next week.

World oil prices have drifted lower in muted trading conditions amid the Thanksgiving Day holiday in top consumer United States.

The Australian sharemarket has retreated from one per cent gains to end modestly higher.

The pay packet for an average full-time female worker was $27,000 less than a man's last financial year.

Instant cameras, motorised skateboards and electronic fitness products are all on the wishlist as Australian shoppers prepare to splurge more this Christmas.

The Australian share market has opened more than half a percentage point higher, as investors flock back to the banks.

The major US indexes were virtually unchanged at the close of a quiet trading day with gains in healthcare and consumer stocks after data showed US modest economic growth.

The Australian dollar has fallen from its one month low, weighed down by weaker commodity prices.

Oil prices have finished a bit higher after a US inventory report showed increased petroleum supply, but a separate report showed fewer drilling rigs in service.