The Australian share market has opened higher with investors confident the US central bank will continue its economic stimulus program following weaker-than-expected jobs figures.
The federal government is giving the Reserve Bank of Australia $8.8 billion to strengthen its ability to implement monetary policy and foreign exchange operations.
US stocks have risen on generally solid corporate earnings and increased confidence after a weaker-than-expected jobs report that the US Federal Reserve will not soon scale back its stimulus progra
US stocks have ended little changed as investors took a breather after last week's hefty gains.The Dow Jones Industrial Average fell 7.45 points (0.05 per cent) to 15,392.20.
The Australian share market has closed at a new five-and-a-half-year high, after US and European markets lifted at the end of last week as US government services were re-opened.
US investors have powered the S&P 500 to an all-time high, one day after Washington politicians reached a deal to reopen the government and avert a feared debt default.
An 11th-hour deal to end the US government shutdown and raise the debt ceiling has sparked a strong rally on Wall Street, with gains of nearly 1.4 percent.
The Australian dollar has leapt a quarter of a US cent higher after US Senate leaders reached a last-minute deal that temporarily extends the debt ceiling and will reopen the government.
The share market recovered from opening losses to close slightly higher on cautious optimism US politicians will agree on a temporary deal to raise its debt ceiling.