Oil prices fell about 1 per cent on Friday after disappointing US job growth revived concerns about a slowing global economy and weaker demand for oil.
Gold rose a per cent to a one-week high on Friday, briefly breaching the pivotal $US1,300-per-ounce ceiling, as weak US payroll data dented the US dollar and risk sentiment while also exacerbating a gloomy global economic picture.
The federal government’s prioritisation of income tax cuts to relieve bracket creep have been given the tick of approval in a new report, which also offered some surprising conclusions about the Labor opposition’s stance on capital gains tax and dividend imputation.
A recommendation by Western Australia's environmental watchdog that new emissions-intensive projects should be carbon neutral has swiftly been rejected by the state government.
Oil prices edged higher overnight, supported by OPEC-led supply cuts and US sanctions against exporters Venezuela and Iran, but gains were capped by falling stock markets and renewed concerns over demand growth.
Gold edged lower overnight, holding near a multi-week low as the US dollar gained against the euro after the European Central Bank postponed an interest rate hike, but the bank's gloomy economic outlook limited the metal's fall.
Wall Street's main indices fell for a fourth consecutive session, after Europe's central bank said it would defer interest rate hikes and offered banks a new round of cheap loans, raising fresh concerns about global economic growth.
Western Australia shouldn’t expect much cash in next month’s federal budget because it has plenty of Commonwealth commitments already including GST top-ups, Prime Minister Scott Morrison has indicated.
Australia's trade surplus increased to $4.5 billion in January, the second largest surplus on record, as the value of gold exports exceeded expectations.
Crude oil futures sank overnight after US government data showed an unexpectedly sharp build in crude inventories, but a third weekly draw down in petrol stocks kept losses at bay.
Gold steadied overnight just above a five-week low touched a day earlier as the US dollar retreated slightly and stocks edged lower, with investors awaiting further signals on the health of the global economy.
Wall Street's main indexes fell for a third session, with the S&P 500 posting its biggest one-day decline in a month, as healthcare and energy shares slumped and investors sought reasons to buy after the market's strong rally to start the year.
Opinion: Abolishing stamp duty and shaking-up energy markets to cut power prices are two policies that could form a powerful campaign platform for a state election in 2021.
The Reserve Bank of Australia's stance on rates may be getting a little less neutral after Australian economic growth fell well short of the central bank's own downgraded forecast.
Oil prices were little changed overnight as the market wavered on expectations for an imminent trade deal between the United States and China while awaiting US government crude stocks data.
Gold prices slipped overnight to their lowest in more than five weeks as the US dollar rose on stronger than expected economic data and rising US Treasury yields.
Wall Street's main indices have dipped in a choppy session as a drop in General Electric shares countered positive retailer earnings and investors eyed a key resistance level for the benchmark S&P 500 after the market's strong run.
Australia's current account deficit has narrowed 33 per cent to $7.2 billion in the three months to December as higher commodity prices boosted the value of exports.
Oil prices rose slightly overnight as the United States and China appeared closer to reaching a formal agreement to end a trade war that has slowed global economic growth while Russia said it would speed up its crude production cuts.
Gold dipped overnight to its lowest in more than five weeks as the US dollar and equities prices rose on optimism about a possible trade deal between the United States and China, while platinum shed 3 per cent as investors took profits from a recent rally.
A project to automate the Roy Hill iron ore benefication plant, predictive analytics for equipment in copper and nickel mines, and sensors to detect rocks to big for crushing were among the local initiatives to receive $2.2 million of federal innovation funding today.
Two more government frontbenchers are expected to resign over the weekend, leaving Scott Morrison's ministry team even further depleted just weeks out from an election.
Brent oil fell while US crude futures steadied overnight as US-China trade tensions persisted, both Chinese and Indian economies showed signs of slowing and news of surging US production undermined OPEC-led output curbs.
Gold retreated to a two-week low overnight as the US dollar recouped losses on stronger-than-expected US economic data, setting bullion on course for its first monthly decline in the last five.
A worsening of the trade war between the US and China could nearly halve Western Australian growth next financial year, according to Treasurer Ben Wyatt, but he believes a worst-case scenario will be avoided.
Oil futures jumped more than 2 per cent overnight after US crude inventories unexpectedly plunged and as top OPEC producer Saudi Arabia appeared unfazed by pressure from US President Donald Trump to prevent oil prices from rising.
Gold prices fell to their lowest in nearly two weeks overnight, pressured by a mild revival in the US dollar after comments from the US Trade Representative dampened expectations of a quick resolution to the US-China trade dispute.
