The Australian stock market has started lower as traders sit on the sidelines following recent gains and ahead of this week's meeting of the Federal Reserve.
Australia faces a long road to economic recovery, even if business gains a short-term boost in confidence from the election of a majority coalition government.
US stocks have mostly gained, helped by news that Larry Summers, perceived as in favour of tighter monetary policy, pulled out of the race to lead the Federal Reserve.
Gold futures have risen, bouncing off a five-week low as a shift in the race to replace Federal Reserve chief Ben Bernanke bolstered expectations for the duration of the central bank's bond-buying
The Australian dollar continues to be buoyed by greenback weakness amid easing tensions in Syria and a hawkish candidate's withdrawal from the race to become the US central bank chairman.
Lawrence Summers, who was considered the leading candidate to replace current US Federal Reserve Chairman Ben Bernanke, has withdrawn his name from consideration.
The Australian dollar has bounced on the news that former US treasury secretary Larry Summers has withdrawn from the race to succeed Ben Bernanke as Federal Reserve chief.
The Australian share market has opened higher as investors welcome solid Chinese economic data, the possibility of a diplomatic solution to the Syria chemical weapons issue and renewed business con
US stocks rose on better Chinese economic data and easing concerns about Syria, despite a fall in Apple shares following the launch of two new iPhones.
Australian shares are close to their highest point for the year as investor confidence is boosted by a decisive federal election result and encouraging Chinese economic data.
Oil prices have lost support after hitting 28-month highs over fears of fallout from a possible US military attack on Syria for its alleged use of chemical weapons.
