AAP

The Reserve Bank of Australia is unlikely to cut interest rates today as the falling Australian dollar does the central bank's heavy lifting.

The Australian dollar has firmed as the gloomiest US manufacturing employment news since 2009 convinced traders the US Federal Reserve may delay winding back its stimulus measures.

US stocks have spent the day in positive territory on generally strong manufacturing data, although leading indices closed well below their intraday highs.

Australia's export commodity prices fell in June, the third monthly fall in a row, following a run of three rises.

The Browse Basin is pivotal to the nation's future gas production amid expectations that global demand will double within 17 years, a senior energy figure says.

The new financial year brings a swag of price hikes as the state government turns to consumers to prop up its sagging revenue base.

Embattled drilling company Boart Longyear's shares have plunged to four-year lows after it issued a second profit downgrade in two months.

The Australian share market has opened more than half a per cent lower.

Prime Minister Kevin Rudd says the core task of his new frontbench will be to keep the Australian economy strong.

The future of the stalled multi-billion dollar Browse gas project will be discussed when the joint venture partners meet for talks on Monday.

US stocks closed mostly lower on Friday after a three-day rally, with shares of BlackBerry hammered as the struggling phone maker reported a surprise quarterly loss.

The Australian dollar has fallen close to 91 US cents after a member of the US Federal Reserve board of governors suggested American stimulus measures could be eased from September.

Premier Colin Barnett says he will be happy to sit down with Prime Minister Kevin Rudd to thrash out a school funding deal.

A controversial crackdown on employer abuse of a skilled foreign worker visa program has passed parliament on the final sitting day before the election.

Australian shares fell flat on the last day of trade in the financial year as cautious investors sold mining and insurance stocks.

Labor's treasury spokesman Ben Wyatt has ruled out seeking pre-selection for the seat of Perth following the resignation of Stephen Smith.

Community opposition to coal seam gas projects in NSW has forced mining giant Santos to trim its operations, environmentalists and local activists say.

The state's upper house has passed a bill to keep a tax on the transfer of businesses after a marathon near 24-hour sitting session.

Prime Minister Kevin Rudd is preparing to announce a key election policy ahead of the naming of his new ministry, after half a dozen key ministers, including Treasurer Wayne Swan, resigned on Wedne

Australia's share market has opened marginally higher as upbeat American employment and home sales data adds a small bounce.

As Australia approaches an unprecedented 22 years of economic expansion, a former Treasury boss has credited the nation's "extraordinary dynamism" for the milestone.

MPs, judges, magistrates and senior public servants have been granted a 2.6 per cent pay rise, roughly in line with inflation, as more than 1,000 government staff face redundancies.

Gold futures have dipped below $1,200 a troy ounce amid continued worries about a coming end to Federal Reserve stimulus measures.

US stocks on Thursday closed solidly higher for a third straight day following positive economic data and comments from a top Federal Reserve official that the Fed would not hastily end its stimulu

The Australian dollar is firmer after the European Central Bank suggested it would continue its support for economic stimulus.

The Australian share market has posted a second straight day of strong gains on optimism about China's financial system and economic growth.

Prime Minister Kevin Rudd's comments about an end to the mining boom are destructive and could be self-fulfilling, the chairman of iron ore exporter Atlas Iron says.

Elders has appointed a former Wesfarmers executive as its new chairman tasked with restoring the 174-year company into purely a rural services player.

The Australian market has opened higher following a surge on Wall Street where weak economic news continues to mean good news for share markets.

Nearly four in five Australian employers have no plans to put on new workers in the next three months.

The Australian dollar has lost some ground after weaker-than-expected US economic growth figures drove an earlier rally in the local currency overnight.