Gold futures have slumped to a three-month low as the belief that US political leaders would reach a compromise to raise the country's borrowing limit reduced demand for a rainy-day asset.
The Australian share market has posted its largest one day gain in more than three months due to signs the US will avoid a debt default by raising its debt ceiling.
Australian stocks have followed global markets higher on optimism US politicians are moving towards a deal to prevent the country hitting its debt ceiling.
The Australian dollar has rallied half a US cent overnight, reversing earlier losses after investors re-assessed local jobs data and the US political situation.
US stocks have surged on progress towards a potential deal in Washington to prevent a debt default, recovering a hefty portion of their losses since the partial government shutdown began.
The state’s peak industry body has revised downwards its economic growth forecasts for Western Australia for the second consecutive quarter, warning that weak consumer and business confidence poses
US stocks have closed mixed as the White House moved to convene meetings with leading members of congress to seek an end to economic policy paralysis in Washington.
Oil prices have fallen sharply after a weekly government report on US oil inventories showed a surprising build in stocks and the US budget impasse dragged on.
The Australian share market lifted slightly on Wednesday as investors looked beyond the political impasse over the United States budget and the possibility of a debt default by the US government.
US stocks have sunk and short-term bond yields jumped as the stalemate in Washington over passing a budget and raising the debt ceiling takes a deeper toll on financial markets.
The Australian share market has closed lower as the political impasse in the United States over the budget and debt ceiling continues to spook investors.
CHINA'S economy is perking up. The latest data suggest growth has bottomed after hitting a trough of 7.5 per cent year-on-year in the second quarter of the year.
Gold prices have declined as investors remained upbeat about an eventual resolution to the US budget impasse that has kept the federal government shut down for four days.
The Australian share market has closed lower as investors become increasingly concerned that the budget impasse in the United States may lead to the US defaulting on its debts.
Australian stocks are weaker as investors grow increasingly concerned about the US government shutdown and the possibility the country will end up defaulting on its debt.
Gold has ended lower, but futures pared earlier losses as weaker US economic data helped offset pressure from investors looking to lock in recent gains.
US stocks have suffered hefty losses as the partial government shutdown dragged through a third day and worries climbed that the budget battle could escalate into a debt default.
Strength in resources and banking stocks has pushed the Australian share market higher despite the continuation of a US Congressional stand-off over budget negotiations.
