US stocks have rebounded, led by energy companies benefiting from an oil price spike, as the West mulls a possible punitive attack against Syria for its alleged chemical weapons use.
The Australian share market has suffered its steepest one-day fall in three weeks as speculation about a US military strike on Syria hits the big miners.
Australian stocks have opened sharply lower as rising concern over the West's likely imminent intervention in Syria sent international markets tumbling.
The Australian dollar is slightly higher on the back of rising commodity prices.At 0700 AEST on Wednesday, the local unit was trading at 89.84 US cents, up from 89.56 cents on Tuesday.
US stocks have plunged as the country moves closer to punitive military action against Syria for its alleged use of chemical weapons in a devastating attack on civilians.
The Australian share market has opened lower after the United States' condemnation of chemical weapon attacks in Syria triggered sharp falls on Wall Street.
US stocks have closed sharply lower after Secretary of State John Kerry warned that the US will demand "accountability" after an "obscene" chemical weapons attack on Syrian civilians.
The Australian dollar edged higher in a quiet day of trade.At 1700 AEST on Monday, the local unit was trading at 90.38 US cents, up from 90.03 cents on Friday.
Gold prices have settled at their highest level in 11-weeks high after weaker US home sales data stoked hopes of sustained stimulus measures from the Federal Reserve.
US stocks scored solid gains to finish last week, with the market getting a jolt from Microsoft's announcement that chief executive Steve Ballmer will retire within the next 12 months.
The Australian dollar fell to a two week low below 90 US cents as it looks increasingly likely the US Federal Reserve will soon start tapering its massive economic stimulus program.
A rising share market has lifted the full year profit of market operator ASX.The company made a net profit of $348 million in the year to June, up 2.7 per cent from the previous year.
The Australian dollar is at a three-year low after some US Federal Reserve policy-makers said tapering should start soon, the minutes of their July meeting reveal.
US stocks have finished a choppy day lower after minutes from the Federal Reserve's last policy meeting gave no more clarity on the central bank's plans for its stimulus program.
