AAP

The Australian dollar has rallied to a one-month high after China's central bank announced measures to stimulate lending.

For almost two decades Peter Costello has been put on a pedestal by his Liberal colleagues.

The share market has suffered its heaviest fall in three weeks due to weak US economic data and concerns about Greece's debt problems.

Premier Colin Barnett was left angry and disappointed after today's meeting of the nation's leaders failed to resolve the dispute over Western Australia's share of GST funds.

The Australian share market has opened marginally lower, following losses on Wall Street overnight.

Gold steadied around $US1,200 an ounce, paring losses as the US dollar extended its fall.

April 17 AAP - The Australian dollar hit a three week high amid further US dollar weakness and after the release of surprisingly strong local jobs data.

US stocks have finished barely lower following mixed earnings and lacklustre economic data as worries about Greece's finances returned to the forefront.

Oil prices have marked gains for their sixth day running amid signs that US production, a key driver of the global supply glut, may be on the cusp of easing.

The share market has posted its first gain in four days, though stronger commodity prices were the main driver rather than a surprise drop in unemployment.

Energy giant Woodside Petroleum has warned a long downturn in oil prices will reduce its profit and shareholder payouts.

Fortescue Metals Group has achieved a significant reduction in costs, giving it hope of staving off losses due to the fall in iron ore prices.

A fall in the jobless rate by 0.1 percentage points has beaten economists' expectations, with the March rate coming in at 6.1 per cent according to figures released by the Australian Bureau of Statistics.

Western Australia's collapsing GST allocation is the most severe economic shock the state has faced since the share crash of the late 1980s, Premier Colin Barnett says.

The Australian share market has opened higher.

The Australian dollar has briefly passed 77 US cents after the release of a batch of weak US economic data, before dropping back.

Gold has risen one per cent to above $US1,200 an ounce, as the US dollar turned weak late in the session after weaker-than-expected US economic data, while stronger US and European stocks limited the metal's upside.

US oil prices have shot up to a 2015 peak after a slight dip in US oil production sparked talk that the glutted petroleum market could be turning.

A rally in petroleum-linked equities have helped lift US stocks following mixed earnings and economic data.

Weaker banking stocks have outweighed a rise in iron ore prices and driven the share market lower.

China's economy expanded 7 per cent year on year in the first quarter, slumping to a new post-global financial crisis low even as authorities take steps to bolster growth in the world's second-largest economy.

A commitment by Prime Minister Tony Abbott has done little to allay uncertainty about the extent of a promised tax cut to small business.

will front the FFA appeals process tonight in their bid to buy more time as they attempt to win back their spot in the A-League finals.

Gold and copper miner PanAust has rejected a state owned Chinese company's $1.1 billion takeover bid, describing the offer as inadequate.

The Australian economy is not particularly innovative and the government could do more to encourage the use of information and communications technology, a global report says.

Queensland should not suffer financially because Western Australia cannot manage its books, the deputy premier says.

The Australian share market has opened slightly higher, following gains on Wall Street.

Gold cut losses on Tuesday, as the dollar turned lower after US retail sales and producer prices data came in weaker than expected, but prices remained below $US1,200 an ounce on higher equities.

The Australian dollar is higher against a weaker US dollar following the release of some disappointing American economic data.

Wall Street stocks have finished mostly higher following mixed corporate earnings news and slightly disappointing US retail sales in March.

Global oil prices have risen for the fourth straight day, with US prices jumping after a government report predicted a drop in US shale-oil production.

Western Australia is at risk of another ratings downgrade by a global credit agency, as it battles budget deficits amid slumping mining royalties.